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- Publisher Website: 10.1016/j.jempfin.2016.07.007
- Scopus: eid_2-s2.0-84980378050
- WOS: WOS:000384383000018
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Article: Local bias in investor attention: Evidence from China's Internet stock message boards
Title | Local bias in investor attention: Evidence from China's Internet stock message boards |
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Authors | |
Keywords | Internet stock message boards Limited attention Local bias |
Issue Date | 2016 |
Publisher | Elsevier 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? |
Abstract | In 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 Identifier | http://hdl.handle.net/10722/229647 |
ISSN | 2023 Impact Factor: 2.1 2023 SCImago Journal Rankings: 0.927 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Huang, Y | - |
dc.contributor.author | Qiu, H | - |
dc.contributor.author | Wu, Z | - |
dc.date.accessioned | 2016-08-23T14:12:24Z | - |
dc.date.available | 2016-08-23T14:12:24Z | - |
dc.date.issued | 2016 | - |
dc.identifier.citation | Journal of Empirical Finance, 2016, v. 38 n. pt. A, p. 338-354 | - |
dc.identifier.issn | 0927-5398 | - |
dc.identifier.uri | http://hdl.handle.net/10722/229647 | - |
dc.description.abstract | In 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.language | eng | - |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jempfin | - |
dc.relation.ispartof | Journal of Empirical Finance | - |
dc.rights | Posting 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.subject | Internet stock message boards | - |
dc.subject | Limited attention | - |
dc.subject | Local bias | - |
dc.title | Local bias in investor attention: Evidence from China's Internet stock message boards | - |
dc.type | Article | - |
dc.identifier.email | Qiu, H: hqiu@hkucc.hku.hk | - |
dc.identifier.authority | Qiu, H=rp01092 | - |
dc.identifier.doi | 10.1016/j.jempfin.2016.07.007 | - |
dc.identifier.scopus | eid_2-s2.0-84980378050 | - |
dc.identifier.hkuros | 262323 | - |
dc.identifier.volume | 38 | - |
dc.identifier.issue | pt. A | - |
dc.identifier.spage | 338 | - |
dc.identifier.epage | 354 | - |
dc.identifier.isi | WOS:000384383000018 | - |
dc.publisher.place | Netherlands | - |
dc.identifier.issnl | 0927-5398 | - |