The present study examines the influence of investor sentiment on the risk-return relationship in the Brazilian stock market from 2002 to 2015. Using the Consumer Confidence Index as a substitute for the level of investor sentiment, we found that the relationship between conditional variance and...

The objective of this paper is to investigate herding behavior in the Brazilian stock mutual funds. Through the study of the 100 largest funds of the category, between September/2004 and July/2008, two herding indexes are analyzed: (i) the index, proposed by Lakonishok, Shleifer and Vishny...