Skip navigation
Skip navigation

Stock salience and the asymmetric market effect of consumer sentiment news

Akhtar, Shumi; Faff, Robert; Oliver, Barry; Subrahmanyam, Avanidhar


We document asymmetric announcement effects of consumer sentiment news on United States stock and stock futures markets. While a negative market effect occurs upon the release of bad sentiment news, there is no market reaction for the counterpart good news. This supports the " negativity effect" hypothesis. Notably, this effect seems most likely to occur in salient stocks, which is consistent with the availability heuristic.

CollectionsANU Research Publications
Date published: 2012
Type: Journal article
Source: Journal of Banking and Finance
DOI: 10.1016/j.jbankfin.2012.07.019


File Description SizeFormat Image
01_Akhtar_Stock_salience_and_the_2012.pdf280.81 kBAdobe PDF    Request a copy

Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.

Updated:  19 May 2020/ Responsible Officer:  University Librarian/ Page Contact:  Library Systems & Web Coordinator