• norsk
    • English
  • English 
    • norsk
    • English
  • Login
View Item 
  •   Home
  • Norges Handelshøyskole
  • Thesis
  • Master Thesis
  • View Item
  •   Home
  • Norges Handelshøyskole
  • Thesis
  • Master Thesis
  • View Item
JavaScript is disabled for your browser. Some features of this site may not work without it.

Investor sentiment and stock returns : using newspaper and Google search sentiments to predict returns on Oslo stock exchange

Øymar, Bård; Myrseth, Maria
Master thesis
Thumbnail
View/Open
masterthesis.pdf (2.075Mb)
URI
http://hdl.handle.net/11250/2611868
Date
2019
Metadata
Show full item record
Collections
  • Master Thesis [4657]
Abstract
We hypothesize that current sentiments can predict future stock returns, and we construct sentiment indexes based on Norwegian newspapers and Norwegian Google searches respectively. The indexes measure changes in the occurrence of economic terms with a negative sentiment, like refinancing, recession and fraud. We investigate if the indexes predict future returns on Oslo Stock Exchange.

Our first finding is that an increase in a weekly newspaper index predicts negative return two weeks later. A one standard deviation increase in the index is associated with 0.4% lower return for the 10% largest stocks. The effect is only apparent for large stocks. Our finding suggests that the index explains 0.6% of returns in week two.

The second finding is that an increase in a monthly Google search index predicts positive return the next month. A one standard deviation increase in the index is associated with a 1.2% higher return the subsequent month. The effect is strongest for large stocks. Our finding suggests that the index explains 5.9% of next month’s return.

Contact Us | Send Feedback

Privacy policy
DSpace software copyright © 2002-2019  DuraSpace

Service from  Unit
 

 

Browse

ArchiveCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsDocument TypesJournalsThis CollectionBy Issue DateAuthorsTitlesSubjectsDocument TypesJournals

My Account

Login

Statistics

View Usage Statistics

Contact Us | Send Feedback

Privacy policy
DSpace software copyright © 2002-2019  DuraSpace

Service from  Unit