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Article: Local bias in investor attention: Evidence from China's Internet stock message boards

TitleLocal bias in investor attention: Evidence from China's Internet stock message boards
Authors
Issue Date2016
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jempfin
Citation
Journal of Empirical Finance, 2016, v. 38 n. pt. A, p. 338-354 How to Cite?
AbstractIn contrast to studies that focus on investment accounts, this study examines local bias in investor attention by analyzing messages posted by investors on China's Internet stock message boards. We find that individual investors pay more attention to stocks of local companies than to those of nonlocal companies. Local bias is particularly strong in underdeveloped regions, toward large, non-CSI 300, and low-turnover stocks and toward stocks with names that indicate their localities. The marginal effect of local bias is also considerably strong for distances within 500 km.
Persistent Identifierhttp://hdl.handle.net/10722/229647
ISSN
2015 Impact Factor: 0.907
2015 SCImago Journal Rankings: 0.879

 

DC FieldValueLanguage
dc.contributor.authorHuang, Y-
dc.contributor.authorQiu, H-
dc.contributor.authorWu, Z-
dc.date.accessioned2016-08-23T14:12:24Z-
dc.date.available2016-08-23T14:12:24Z-
dc.date.issued2016-
dc.identifier.citationJournal of Empirical Finance, 2016, v. 38 n. pt. A, p. 338-354-
dc.identifier.issn0927-5398-
dc.identifier.urihttp://hdl.handle.net/10722/229647-
dc.description.abstractIn contrast to studies that focus on investment accounts, this study examines local bias in investor attention by analyzing messages posted by investors on China's Internet stock message boards. We find that individual investors pay more attention to stocks of local companies than to those of nonlocal companies. Local bias is particularly strong in underdeveloped regions, toward large, non-CSI 300, and low-turnover stocks and toward stocks with names that indicate their localities. The marginal effect of local bias is also considerably strong for distances within 500 km.-
dc.languageeng-
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jempfin-
dc.relation.ispartofJournal of Empirical Finance-
dc.rightsPosting accepted manuscript (postprint): © <year>. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/-
dc.titleLocal bias in investor attention: Evidence from China's Internet stock message boards-
dc.typeArticle-
dc.identifier.emailQiu, H: hqiu@hkucc.hku.hk-
dc.identifier.authorityQiu, H=rp01092-
dc.identifier.doi10.1016/j.jempfin.2016.07.007-
dc.identifier.hkuros262323-
dc.identifier.volume38-
dc.identifier.issuept. A-
dc.identifier.spage338-
dc.identifier.epage354-
dc.publisher.placeNetherlands-

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