@article { , title = {Institutional investor sentiment, beta, and stock returns}, abstract = {This paper examines the role of institutional investor sentiment in determination of the beta-return relation. Empirical evidence documents a positive (negative) beta-return relation over bearish (bullish) periods, implying that institutional investors can also be sentiment traders.}, doi = {10.1016/j.frl.2019.101374}, issn = {1544-6123}, journal = {Finance Research Letters}, publicationstatus = {Published}, publisher = {Elsevier}, url = {http://researchrepository.napier.ac.uk/Output/2851221}, volume = {37}, keyword = {Institutional investor sentiment, Beta-return relation, Capital asset pricing model (CAPM), Risk-return tradeoff, Security market line (SML)}, year = {2020}, author = {Wang, Wenzhao} }