In this paper, we find evidence that the mutual fund flows could be a good measure of investor sentiment, and inventors in Taiwan have independent sentiments about domestic and foreign markets. We further construct a sentiment index by principle component analysis, and show that investor sentiment measured by fund flows has no significant impact, although the sign is positive as expected, on concurrent market return. The results also suggest different sentiments embedded in mutual fund flows and stock market in Taiwan.
| Identifer | oai:union.ndltd.org:CHENGCHI/G0096357011 |
| Creators | 馬嘉蓉, Ma, Chia Jung |
| Publisher | 國立政治大學 |
| Source Sets | National Chengchi University Libraries |
| Language | 英文 |
| Detected Language | English |
| Type | text |
| Rights | Copyright © nccu library on behalf of the copyright holders |
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