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Demand Uncertainty And Investment In The Restaurant Industry, Jayoung Sohn
Demand Uncertainty And Investment In The Restaurant Industry, Jayoung Sohn
Open Access Dissertations
Since the collapse of the housing market, the prolonged economic uncertainty lingering in the U.S. economy has dampened restaurant performance. Economic uncertainty affects consumer sentiment and spending, turning into demand uncertainty. Nevertheless, the highly competitive nature of the restaurant industry does not allow much room for restaurants to actively control prices, leaving most food service firms exposed to demand uncertainty. To investigate the impact of demand uncertainty in the restaurant industry, this study focused on the implications of demand uncertainty for investment.
The first essay in chapter 3 examined the impact of demand uncertainty on investment and how the impact …
Two Essays On Investor Emotions And Their Effects In Financial Markets, Jiancheng Shen
Two Essays On Investor Emotions And Their Effects In Financial Markets, Jiancheng Shen
Finance Theses & Dissertations
This dissertation provides empirical evidences on media-based investor emotions in predicting stock return, conditional volatility, and stock and bond return comovements.
We first studied the interaction between US media content and the US stock market returns and volatility. We utilize propriety investor sentiment measures developed by Thompson Reuters MarketPsych. We select four measures of investor sentiment that reflect both pessimism and optimism of small investors. Our objective is two-fold. First, we examine the ability of these sentiment measures to predict market returns. For this purpose, we use dynamic Vector Auto-Regressive models. Second, we are interested in exploring the effects of …