This study examines the relation between the sentiment of noise traders and stock prices in ten Post-Communist East European stock markets: Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovak Republic and Slovenia over the period April 2004 to March 2014. The results suggest that, in general, the sentiment of noise traders, proxied by the consumer confidence index, seems to have no impact on stock prices at a market wide level.
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Published by Human Resource Management Academic Research Society (www.hrmars.com)
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