id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
cord-296717-ay4wcmk3	Long, Wen	Can the Chinese volatility index reflect investor sentiment?	2020-10-20		.txt	text/plain	7160	430	55	In order to describe investor sentiment comprehensively, we build a three-dimensional investor sentiment measurement system composed of macro, meso and micro level, and decompose iVX into three components to obtain short-term, medium-term fluctuations and long-term trend by EEMD method. They use principal component analysis to extract a sentiment index from six variables of the stock market, including closed-end fund discount, NYSE share turnover, the number and average first-day returns on IPOs, the equity share in new issues, and the dividend premium. The contributions of this paper include the following three aspects: (1) This study seeks to examine systematically on whether iVX has the ability to represent sentiment, and analyze it at the macro, meso and micro levels, while previous studies rarely discuss this issue, especially for the newly released and short-lived Chinese volatility index iVX. (3) By employing dynamic factor analysis on different sentiment indexes with mixed-frequency to extract the common factor, we investigate whether iVX can comprehensively represent investor sentiments at different time scales.	./cache/cord-296717-ay4wcmk3.txt	./txt/cord-296717-ay4wcmk3.txt