Monetary policy and liquidity: Does investor sentiment matter?

We examine the relationship between monetary policy and liquidity effects at the macro (overall market) and micro (individual stocks) levels, using data from the Indian stock market. We also test the possible asymmetric effect of investor sentiment on the monetary policy – liquidity relationship. Re...

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Autores principales:	Byomakesh Debata, Saumya Ranjan Dash, Jitendra Mahakud
Formato:	article
Lenguaje:	EN
Publicado:	Elsevier 2021
Materias:	Investor sentiment India Liquidity Monetary policy Emerging stock market Business HF5001-6182
Acceso en línea:	https://doaj.org/article/4e275a28085c491a80b8ad1874c9b168
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spelling	oai:doaj.org-article:4e275a28085c491a80b8ad1874c9b1682021-11-20T04:55:54ZMonetary policy and liquidity: Does investor sentiment matter?0970-389610.1016/j.iimb.2021.07.001https://doaj.org/article/4e275a28085c491a80b8ad1874c9b1682021-09-01T00:00:00Zhttp://www.sciencedirect.com/science/article/pii/S0970389621000598https://doaj.org/toc/0970-3896We examine the relationship between monetary policy and liquidity effects at the macro (overall market) and micro (individual stocks) levels, using data from the Indian stock market. We also test the possible asymmetric effect of investor sentiment on the monetary policy – liquidity relationship. Results suggest strong predictability of monetary policy on liquidity at an aggregate market level and individual stock level. The effect of monetary policy on liquidity is stronger during low sentiment (pessimistic) periods as compared to high sentiment (optimistic) periods.Byomakesh DebataSaumya Ranjan DashJitendra MahakudElsevierarticleInvestor sentimentIndiaLiquidityMonetary policyEmerging stock marketBusinessHF5001-6182ENIIMB Management Review, Vol 33, Iss 3, Pp 257-277 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Investor sentiment India Liquidity Monetary policy Emerging stock market Business HF5001-6182
spellingShingle	Investor sentiment India Liquidity Monetary policy Emerging stock market Business HF5001-6182 Byomakesh Debata Saumya Ranjan Dash Jitendra Mahakud Monetary policy and liquidity: Does investor sentiment matter?
description	We examine the relationship between monetary policy and liquidity effects at the macro (overall market) and micro (individual stocks) levels, using data from the Indian stock market. We also test the possible asymmetric effect of investor sentiment on the monetary policy – liquidity relationship. Results suggest strong predictability of monetary policy on liquidity at an aggregate market level and individual stock level. The effect of monetary policy on liquidity is stronger during low sentiment (pessimistic) periods as compared to high sentiment (optimistic) periods.
format	article
author	Byomakesh Debata Saumya Ranjan Dash Jitendra Mahakud
author_facet	Byomakesh Debata Saumya Ranjan Dash Jitendra Mahakud
author_sort	Byomakesh Debata
title	Monetary policy and liquidity: Does investor sentiment matter?
title_short	Monetary policy and liquidity: Does investor sentiment matter?
title_full	Monetary policy and liquidity: Does investor sentiment matter?
title_fullStr	Monetary policy and liquidity: Does investor sentiment matter?
title_full_unstemmed	Monetary policy and liquidity: Does investor sentiment matter?
title_sort	monetary policy and liquidity: does investor sentiment matter?
publisher	Elsevier
publishDate	2021
url	https://doaj.org/article/4e275a28085c491a80b8ad1874c9b168
work_keys_str_mv	AT byomakeshdebata monetarypolicyandliquiditydoesinvestorsentimentmatter AT saumyaranjandash monetarypolicyandliquiditydoesinvestorsentimentmatter AT jitendramahakud monetarypolicyandliquiditydoesinvestorsentimentmatter
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Monetary policy and liquidity: Does investor sentiment matter?

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