The empirical study about international investor sentiment and its impact on the U.S. stock market
Based on behavioural finance theory and stock market data, this paper studies the contagion of investor sentiment in international markets and its impact o n the US stock market . We use monthly data on four indicators (business confidence index, consumer confidence index, the volume of initial public offerings, and trading volume) for eight countries (the United States, Canada, China, Japan, Germ