All Outputs (2)

The Fed and the Stock Market: A Tale of Sentiment States (2022)
Journal Article
Guo, H., Hung, C.-H. D., & Kontonikas, A. (2022). The Fed and the Stock Market: A Tale of Sentiment States. Journal of International Money and Finance, 128, Article 102707. https://doi.org/10.1016/j.jimonfin.2022.102707

We analyze the period before the zero lower bound and show that the state of investor sentiment strongly affects the transmission of monetary policy to the stock market. The impact of Federal funds rate (FFR) surprises is mostly potent when sentiment... Read More about The Fed and the Stock Market: A Tale of Sentiment States.

How Does Firm-Specific Investor Sentiment Affect the Value of Corporate Cash Holdings? (2022)
Journal Article
Guo, H., Yin, C., & Zeng, Y. (2023). How Does Firm-Specific Investor Sentiment Affect the Value of Corporate Cash Holdings?. British Journal of Management, 34(1), 410-441. https://doi.org/10.1111/1467-8551.12602

We document a positive relation between firm-specific investor sentiment (FSIS) and the value of cash. We also show that FSIS has a stronger positive effect on the value of cash than the value of other types of assets, suggesting that our finding is... Read More about How Does Firm-Specific Investor Sentiment Affect the Value of Corporate Cash Holdings?.