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Sougata Banerjee

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Review Open access Sep 2026

Text‐Based Investor Sentiment in Asset Pricing: A Survey of Belief Formation Mechanisms

Text‐based investor sentiment has become a widely used explanatory variable in asset pricing, yet its economic interpretation remains unsettled. A large empirical literature documents that sentiment measures derived from news, corporate disclosures, and social media predict short‐horizon returns, affect volatility, a...

Sougata Banerjee, D. Aggarwal · 0 citations

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