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The Relationship between Online Attention and Share Prices

机译:在线注意力与股价之间的关系

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Our objective is to explore the correlation between stock market and investors' attention in China's stock market through empirical analysis method.We use search volume (SV) to represent individual investors' attention.We choose 1380 a-share stocks in SSE and SZSE from 2008 to 2011.After summarizing time series data of different cross-sections, we get the panel data.According to the fixed effect analysis of panel data, we find that SV can react the changing of individual investors' attention.An increase in SV predicts higher volume and transaction amount in this week but turn down in the next week in all four years.And the price has the same fluctuation in 2010 and 2011.This is an abnormal phenomenon that more investors pay attention to one stock making its price get lower after a short increase.Through comparing with the analytical result of American, we predict that there will be a stock control and illegal cash in Chinese stock market.The different analytical results between Chinese and American stock market indicated that our stock supervision system is still not perfect.
机译:我们的目标是通过实证分析方法探索股票市场与中国股票市场的关注度之间的相关性。我们使用搜索量(SV)表示个人投资者的关注度。我们从2008年选择上交所和深交所的1380股A股股票到2011年,汇总不同横截面的时间序列数据后,我们得到了面板数据。根据面板数据的固定效应分析,我们发现SV可以对个人投资者注意力的变化做出反应.SV的增加预示着更高这一周的交易量和交易量在接下来的四年中都在下一个星期下降,而且价格在2010年和2011年都有相同的波动。通过与美国的分析结果相比,我们预测中国股票市场将存在股票控制和非法现金的情况。美国股市表明,我们的股票监管制度还不完善。

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