Proceedings of the 2019 3rd International Conference on Education, Culture and Social Development (ICECSD 2019)

Relationship between Excessive Stock Price Fluctuations and Investors’ Attention—Based on Over-attention Underperformance

Authors
Meng Yu-fan
Corresponding Author
Meng Yu-fan
Available Online August 2019.
DOI
10.2991/icecsd-19.2019.51How to use a DOI?
Keywords
Behavioral finance; Investor attention; Multiple linear regression
Abstract

China A-share market is a stock market without shorting mechanism where the individual investors play an important role. The study attempts to find out the relationship between the attention of individual investors and the excessive fluctuation of the share price in Chinese stock market. Also, the research objective is to identify the existence of Over-attention Underperformance in Chinese stock market. The research is based on Multiple Linear Regression with the samples comprising behavioral data from Xueqiu.com, the biggest online stock forum in China. The research result confirms the existence of Over-attention Underperformance. Besides, the result shows that it’s individual investors, rather than institutional investors, that dominate the Over-attention Underperformance in stock markets. The innovation of this paper is distinguishing individual investors from institutional investors in analysis.

Copyright
© 2019, 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 2019 3rd International Conference on Education, Culture and Social Development (ICECSD 2019)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
August 2019
ISBN
10.2991/icecsd-19.2019.51
ISSN
2352-5398
DOI
10.2991/icecsd-19.2019.51How to use a DOI?
Copyright
© 2019, 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  - Meng Yu-fan
PY  - 2019/08
DA  - 2019/08
TI  - Relationship between Excessive Stock Price Fluctuations and Investors’ Attention—Based on Over-attention Underperformance
BT  - Proceedings of the 2019 3rd International Conference on Education, Culture and Social Development (ICECSD 2019)
PB  - Atlantis Press
SP  - 402
EP  - 409
SN  - 2352-5398
UR  - https://doi.org/10.2991/icecsd-19.2019.51
DO  - 10.2991/icecsd-19.2019.51
ID  - Yu-fan2019/08
ER  -