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As implied by sentiment theory (see Sect. 1), sentiment has a medium-term reversal effect on returns.
Hume's immediate successor in sentiment theory, Adam Smith, held a important view about the role and place of benevolence that has influenced a number of writers in business ethics.
Investor sentiment theory argues that overly optimistic investors over value IPO prices in the short-run, which erodes long-run performance (Aggarwal and Rivoli, 1990); Ritter (1991); Loughran and Ritter (1995).
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Prime examples are found in the moral-sentiment theory of David Hume, where benevolence is the central "principle" of human nature in his moral psychology, and in utilitarian theories, where the principle of utility is itself a strong and demanding principle of beneficence.
Thus patriotism and nationalism are understood as the same type of set of beliefs and attitudes, and distinguished in terms of their objects, rather than the strength of those beliefs and attitudes, or as sentiment vs. theory.
This is a nice sentiment in theory, she said, but in practice, doctors should be prepared to tailor prevention discussions and treatment options to LGBTQ individuals' specific needs.
That is a very admirable sentiment, and in theory a darn fine principle.
In the eighteenth-century context of moral theory, "sentiment" is a generic label for emotions.
Adam Smith developed a comprehensive and somewhat unusual version of moral sentimentalism in his Theory of Moral Sentiments (1759, TMS).
But this doesn't quite get round the fact that theory without sentiment is what text books are for and that, as in so much of his work, the flashes of humour and pathos are never quite substantial enough to carry the intellectual weight dumped on top of them.
The organizations that claim danger from GMOs have a tendency to promote anti-vaccine sentiment and even conspiracy theories, as I recently discussed.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com