Financial shocks, investor sentiment, and heterogeneous firms’ output volatility: Evidence from credit asset securitization markets

Jia Li and Jianfei Yang

Finance Research Letters, 2024, vol. 60, issue C

Abstract: Continuous improvement of the financial system and securities assets represented by bonds is emerging as the main direction of enterprises financialization. Therefore, this study finds that financial shocks lead to higher output volatility of heterogeneous firms and that the negative effect is strengthened by investor sentiment. The findings offer practical guidance for firms to observe financial shocks and investor sentiment.

Keywords: Financial shock; Output volatility of heterogeneous; Investor sentiment (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:60:y:2024:i:c:s1544612323012321

DOI: 10.1016/j.frl.2023.104860

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