Proceedings of the 2014 International Conference on Management Science and Management Innovation

Research into the Interaction between Investor Attention and Stock Prices

Authors
Yong-Jun Zhong, Lu Lu
Corresponding Author
Yong-Jun Zhong
Available Online June 2014.
DOI
10.2991/msmi-14.2014.29How to use a DOI?
Keywords
Investor attention, Overconfidence, Cointegration analysis.
Abstract

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.

Copyright
© 2014, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2014 International Conference on Management Science and Management Innovation
Series
Advances in Economics, Business and Management Research
Publication Date
June 2014
ISBN
978-94-6252-015-8
ISSN
2352-5428
DOI
10.2991/msmi-14.2014.29How to use a DOI?
Copyright
© 2014, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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  - Proceedings of the 2014 International Conference on Management Science and Management Innovation
PB  - Atlantis Press
SP  - 160
EP  - 166
SN  - 2352-5428
UR  - https://doi.org/10.2991/msmi-14.2014.29
DO  - 10.2991/msmi-14.2014.29
ID  - Zhong2014/06
ER  -