Research into the Interaction between Investor Attention and Stock Prices
Yong-Jun Zhong, Lu Lu
Available Online June 2014.
- https://doi.org/10.2991/msmi-14.2014.29How to use a DOI?
- Investor attention, Overconfidence, Cointegration analysis.
- We use the number of posts of sample stocks in CSI 300 Index dated from 2009 to 2013 in the Oriental Fortune Forum to measure investor attention in Chinese stock markets and analyze the interaction between this attention and stock prices. We find that (1) stocks are held by optimistic investors in Chinese stock markets which lack the mechanism of short sales; (2) a fall in share price results less attention to stock markets on account of the departure of such investors. On the contrary, optimistic investors who are overconfident continually join in the stock markets and pay more attention to the markets as the stock prices go up, leading to a further rise in the stock prices.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Yong-Jun Zhong AU - Lu Lu PY - 2014/06 DA - 2014/06 TI - Research into the Interaction between Investor Attention and Stock Prices BT - 2014 International Conference on Management Science and Management Innovation (MSMI 2014) PB - Atlantis Press SP - 160 EP - 166 SN - 2352-5428 UR - https://doi.org/10.2991/msmi-14.2014.29 DO - https://doi.org/10.2991/msmi-14.2014.29 ID - Zhong2014/06 ER -