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The Frontiers of Society, Science and Technology, 2019, 1(7); doi: 10.25236/FSST.2019.010705.

Investor Sentiment and Mispricing of Assets--from Behavioral Finance Perspective


Yuhui Den

Corresponding Author:
Yuhui Den

Agricultural Bank of China Shenzhen Branch, Shenzhen 518000, China


From the perspective of behavioral finance, this paper explores the impact of investor sentiment on asset mispricing and the moderating role of accounting conservatism in the relationship between investor sentiment and asset mispricing.The research shows that the more optimistic investors are, the more overvalued stock prices are. The improvement of accounting conservatism can alleviate the positive impact of investors' optimism on stock price overvaluation.The conclusion of this study provides a theoretical basis for relevant departments to mitigate the impact of investor sentiment on asset mispricing from the perspective of accounting conservatism, and also provides a way to improve the pricing efficiency of the securities market.


investor sentiment, Asset pricing, Accounting conservatism

Cite This Paper

Yuhui Den. Investor Sentiment and Mispricing of Assets--from Behavioral Finance Perspective. The Frontiers of Society, Science and Technology (2019) Vol. 1 Issue 7: 44-51. https://doi.org/10.25236/FSST.2019.010705.


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