Investor Sentiment, Information Disclosure and Corporate Investment Behavior

DOI

10.2991/icefs-17.2017.7How to use a DOI?

Keywords

investor sentiment, information disclosure, cater channels, corporate investment behavior

Abstract

Behavioral Corporate Finance believes that disclosure of corporate information, not only affects the corporate value but also affects the expected growth of the enterprise market investors. Investors would give the lower level of disclosure of the stock a higher level of risk. This paper selected the Shenzhen Stock Exchange company data during 2006-2014, and introducted the cross-term of information disclosure and investor sentiment. It analyzed the relationship between information disclosure and cater channels. It was found that managers of listed companies tend to cater to a positive correlation on investor sentiment, and the higher the level of disclosure for companies, a stronger tendency of catering to the market sentiment managers have.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Yanyu Zhang
AU  - Qiang Xu
PY  - 2017/01
DA  - 2017/01
TI  - Investor Sentiment, Information Disclosure and Corporate Investment Behavior
BT  - Proceedings of the 2017 International Conference on Economics, Finance and Statistics (ICEFS 2017)
PB  - Atlantis Press
SP  - 71
EP  - 75
SN  - 2352-5428
UR  - https://doi.org/10.2991/icefs-17.2017.7
DO  - 10.2991/icefs-17.2017.7
ID  - Zhang2017/01
ER  -