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What are the six components of Baker & Wurglers (2006) sentiment index, and briefly explain why each components is thought to be correlated with investor
What are the six components of Baker & Wurglers (2006) sentiment index, and briefly explain why each components is thought to be correlated with investor sentiment.
1.The average closed-end fund discount
2.NYSE share turnover
3.Frequency of IPOs
4.Average first-day returns for IPO firms
5.High proportion of equity vs debt new issues
6.The dividend premium
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