Meta-Analysis of the Relationship between Investor Sentiment and Stock Returns

The objective of this paper is to offers a Meta - analysis of the relationship between Investor Sentiment and Stock Returns . Although it is taken for granted in the scientific research area that sentiment do influence stock returns , they have produced contradictory and inconsistent results . This paper applies meta -analysis,which is considered among quantitative statistic metods , in order to integrate the existing body of research and identify the moderators of the relationship between Investor Sentiment and Stock Return . The results of studies conducted about this relationship indicate that these studies are heterogeneous .The recorded studies consisting of Master and Ph.d. theses as well as recognized national and international papers have been selected as research populatiob.Out of these 134 research 72 cases were found qualified and suitable having the condition for studying meta - analysis . The final results showed a significant relationship between Investor Sentiment and Stock Return .