Stock price impact of diversity in investor beliefs

Murugappa (Murgie) Krishnan

Applied Economics Letters, 2019, vol. 26, issue 18, 1533-1536

Abstract: I re-examine the association between diverse investor beliefs and stock prices within the context of an imperfect competition model. The relationship is ambiguous because of several different effects of a change in diversity in investor beliefs. This has implications for empirical design and explains why 40 years of evidence on this association is inconclusive.

Date: 2019
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DOI: 10.1080/13504851.2019.1584361

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