This table presents regression results with measures of news sentiment and net trader position (normalized by inventory levels) as the dependent variable. A series of
macroeconomic variables are included in the regression to indicate the condition of the business cycle during period t; percentage changes in yields, credit spreads and
dividend yields. In addition there is a dummy variable indicating whether the economy is in recession during period t (Recessiont). Newey–West standard errors are shown in
parentheses, with the appropriate number of lags in each case determined using Akaike Information Criterion (AIC). ⁄⁄⁄, ⁄⁄, ⁄ denote significance at the 1%, 5%, and 10% levels
respectively.
This table presents regression results with measures of news sentiment and net trader position (normalized by inventory levels) as the dependent variable. A series ofmacroeconomic variables are included in the regression to indicate the condition of the business cycle during period t; percentage changes in yields, credit spreads anddividend yields. In addition there is a dummy variable indicating whether the economy is in recession during period t (Recessiont). Newey–West standard errors are shown inparentheses, with the appropriate number of lags in each case determined using Akaike Information Criterion (AIC). ⁄⁄⁄, ⁄⁄, ⁄ denote significance at the 1%, 5%, and 10% levelsrespectively.
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