Invariant Regularization of Supersymmetric Chiral Gauge Theory

We formulate a manifestly supersymmetric gauge covariant regularization of supersymmetric chiral gauge theories. In our scheme, the effective action in the superfield background field method above one-loop is always supersymmetric and gauge invariant. The gauge anomaly has a covariant form and can emerge only in one-loop diagrams with all the external lines being the background gauge superfield. We also present several illustrative applications in the one-loop approximation: the self-energy part of the chiral multiplet and of the gauge multiplet; the super-chiral anomaly and the superconformal anomaly; as the corresponding anomalous commutators, the Konishi anomaly and an anomalous supersymmetric transformation law of the supercurrent (the ``central extension'' of N=1 supersymmetry algebra) and of the R-current.Comment: 43 pages, PHYZZX. Final version to appear in Prog. Theor. Phy

Does Fear has Stronger Impact than Confidence on Stock Returns? The Case of Asia-Pacific Developed Markets

Employing data from Australia, Hong Kong, and Japan over the period between January 2004 to December 2017, this study investigates the relationship between investor sentiment and stock returns. We analyze two reversed sentiment indicators, namely Consumer Confidence Index (CCI) and Volatility Index (VIX), in two conversing situations: low and high sentiment. The empirical evidence suggests that sentiment has a significant link with concurrent returns, but its influence seems to wipe out quickly as the little to no return predictability is detected. More importantly, we find that “investor fear gauge” (VIX) generates a more significant contemporaneous effect on market returns than investor confidence. The impact on future returns, on the contrary, is inconclusive since low CCI and VIX dominate the opposite ones most of the time.JEL Codes - G10; G15; G4