Research Article
The Impact of Investors' Attention on the Trading Activity of the Stock Market ——Evidence from the Online Education Industry
@INPROCEEDINGS{10.4108/eai.17-11-2023.2342655, author={Yunhan Sun}, title={The Impact of Investors' Attention on the Trading Activity of the Stock Market ------Evidence from the Online Education Industry}, proceedings={Proceedings of the 5th International Conference on Economic Management and Model Engineering, ICEMME 2023, November 17--19, 2023, Beijing, China}, publisher={EAI}, proceedings_a={ICEMME}, year={2024}, month={2}, keywords={investor attention online education multiple linear regression}, doi={10.4108/eai.17-11-2023.2342655} }- Yunhan Sun
Year: 2024
The Impact of Investors' Attention on the Trading Activity of the Stock Market ——Evidence from the Online Education Industry
ICEMME
EAI
DOI: 10.4108/eai.17-11-2023.2342655
Abstract
The emergence of the COVID-19 pandemic has sparked heightened concerns regarding remote learning, leading investors to shift their focus from traditional industries towards the realm of online education. In this study, we employ a multiple linear regression model to investigate the correlation between investors' attention and the stock return and liquidity of companies listed in the online education sector. The analysis encompasses pertinent indicators and investors' attention data of these listed companies spanning the years 2013 to 2020.In the process of selecting indicators, we have chosen Baidu Index as the primary gauge of investor attention, owing to its extensive utilization in China. Furthermore, we have selected stock yield as the representative metric for return, while trading volume and turnover rate have been adopted as proxies for liquidity. Our findings indicate a positive correlation between investor attention and both stock return and liquidity for the listed companies operating within the online education industry.