Consumer Confidence and Stock Returns

By Kenneth L. Fisher, M. Statman. 2003

396 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/4b8a750bf19c36f2b9ba83bb38df04d712a956da

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Finance

Citations in the corpus

How Does Investor Sentiment Affect Stock Market Crises? Evidence from Panel Data (2011, neutral): “Fisher and Statman (2003) found statistically significant relationships between some components of consumer confidence and subsequent NASDAQ and small cap returns.”
An examination of investor sentiment effect on G7 stock market returns (2013, positive): “Previous studies on the US market have shown that an increase in investors’ confidence is associated with higher stock returns followed by lower returns (see Fisher and Statman 2000, 2003; Brown and Cliff 2005; Baker and Wurgler 2006).”
Investor sentiment aligned: : A powerful predictor of stock returns (2015, methodology): “The index has been used to predict household spending activity (e.g., Ludvigson, 2004) as well as small-stock premium as an investor sentiment proxy (e.g., Fisher and Statman, 2003; Lemmon and Portniaguina, 2006).”
A Liquidity-Based Theory of Closed-End Funds (2009, background): “This is consistent with Fisher and Statman (2003), who find that consumer confidence does not forecast S&P returns, but can predict returns on Nasdaq and small-cap stocks.”
Investor sentiment in the stock market (2013, positive): “S&P 500 index will be used as a market index in this study as it was used by Fisher & Statman (2003).”
Does investor sentiment really matter (2016, background): “, 2005) and are considered a reliable barometer of sentiment in the aggregate market (Fisher and Statman, 2003; Antoniou et al., 2013).”
Do investors exhibit behavioral biases in investment decision making? A systematic review (2018, background): “Fochmann et al. (2016) conducted an experiment to test the effect of tax perception biases of the investors.”
Do Investors Overweight Personal Experience? Evidence from IPO Subscriptions (2008, background): “4 See De Long et al. (1990) for a seminal sentiment model; Derrien (2005) and Ljungqvist et al., (2006) for models of IPO markets and sentiment; Lee et al. (1991), Rajan and Servaes (1997), Lowry (2003), and Cornelli et al. (2006) for empirical evidence on the role of sentiment in IPOs; Baker and Wu”
Investor Sentiment and Corporate Disclosure (2008, neutral): “Hirshleifer (2001) and Baker et al.”