Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "1415"
  #_source: array:26 [
    "id" => "1415"
    "slug" => "investor-sentiment-and-mutual-fund-strategies"
    "yearMonth" => "2015-08"
    "year" => "2015"
    "title" => "Investor Sentiment and Mutual Fund Strategies"
    "description" => "MASSIMO, M. et YADAV, V. (2015). Investor Sentiment and Mutual Fund Strategies. <i>Journal of Financial and Quantitative Analysis</i>, 50(4), pp. 699-727."
    "authors" => array:2 [
      0 => array:3 [
        "name" => "YADAV Vijay"
        "bid" => "B00148056"
        "slug" => "yadav-vijay"
      ]
      1 => array:1 [
        "name" => "MASSIMO M."
      ]
    ]
    "ouvrage" => ""
    "keywords" => []
    "updatedAt" => "2021-02-02 16:16:18"
    "publicationUrl" => "https://www.cambridge.org/core/journals/journal-of-financial-and-quantitative-analysis/article/abs/investor-sentiment-and-mutual-fund-strategies/24653BF40CE3ABD72F5AE00881260D73"
    "publicationInfo" => array:3 [
      "pages" => "699-727"
      "volume" => "50"
      "number" => "4"
    ]
    "type" => array:2 [
      "fr" => "Articles"
      "en" => "Journal articles"
    ]
    "support_type" => array:2 [
      "fr" => "Revue scientifique"
      "en" => "Scientific journal"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "We show that mutual funds employ portfolio strategies based on market sentiment. We build a proxy for the degree of a fund’s sentiment beta (or FSB). The low FSB funds outperform high FSB funds, even after controlling for standard risk factors and fund characteristics. This effect is sizable and delivers a net-of-risk performance of 3.8% per year. Funds with lower FSB follow more idiosyncratic strategies, suggesting that FSB is deliberate active choice of the fund manager. A sentiment contrarian strategy leads to high flows due to its superior performance, whereas a sentiment catering strategy fails to attract significant investor flows."
      "en" => "We show that mutual funds employ portfolio strategies based on market sentiment. We build a proxy for the degree of a fund’s sentiment beta (or FSB). The low FSB funds outperform high FSB funds, even after controlling for standard risk factors and fund characteristics. This effect is sizable and delivers a net-of-risk performance of 3.8% per year. Funds with lower FSB follow more idiosyncratic strategies, suggesting that FSB is deliberate active choice of the fund manager. A sentiment contrarian strategy leads to high flows due to its superior performance, whereas a sentiment catering strategy fails to attract significant investor flows."
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2024-11-21T17:21:46.000Z"
    "docTitle" => "Investor Sentiment and Mutual Fund Strategies"
    "docSurtitle" => "Journal articles"
    "authorNames" => "<a href="/cv/yadav-vijay">YADAV Vijay</a>, MASSIMO M."
    "docDescription" => "<span class="document-property-authors">YADAV Vijay, MASSIMO M.</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2015</span>"
    "keywordList" => ""
    "docPreview" => "<b>Investor Sentiment and Mutual Fund Strategies</b><br><span>2015-08 | Journal articles </span>"
    "docType" => "research"
    "publicationLink" => "<a href="https://www.cambridge.org/core/journals/journal-of-financial-and-quantitative-analysis/article/abs/investor-sentiment-and-mutual-fund-strategies/24653BF40CE3ABD72F5AE00881260D73" target="_blank">Investor Sentiment and Mutual Fund Strategies</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 8.973098
  +"parent": null
}