The Impact of Investor Sentiment on Stock Prices in the Egyptian Stock Market

نوع المستند : المقالة الأصلية

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This research investigates the impact of investor sentiment on stock prices in the Egyptian stock market. Sample size consists of 83 companies listed in the Egyptian stock exchange. Three measures can be used to measure investors' biased expectations: Share Turnover, E Share, and dividend premium. Results imply that, investor sentiment significantly affect stock prices of the Egyptian companies. Interestingly, in periods of higher investor 
sentiment (investor optimism) stock prices increases and overvaluated, in periods of low investor sentiment, stock prices under-valuated than its fundamental values (stock prices decrease). 

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