本文選題：股吧　切入點(diǎn)：投資者關(guān)注　出處：《華東師范大學(xué)學(xué)報(bào)(哲學(xué)社會(huì)科學(xué)版)》2017年06期 　論文類型：期刊論文

【摘要】：作為體現(xiàn)媒體關(guān)注度的對(duì)上市公司的新聞報(bào)道量,以及投資者對(duì)特定上市公司或股票的關(guān)注度等是否會(huì)影響對(duì)應(yīng)股票價(jià)格的運(yùn)行,這乃是行為金融學(xué)的重要研究領(lǐng)域�；诔掷m(xù)跟蹤了半年之久的東方財(cái)富股吧中37萬(wàn)多條信息轉(zhuǎn)化而來(lái)的數(shù)據(jù)進(jìn)行的實(shí)證研究表明,以股吧中的發(fā)帖數(shù)衡量的投資者關(guān)注度、公司新聞量以及公告數(shù)對(duì)相關(guān)股票當(dāng)周的價(jià)格波動(dòng)幅度均分別具有較為顯著的影響,且公告數(shù)與對(duì)應(yīng)股價(jià)的波幅呈負(fù)相關(guān),但這種影響具有時(shí)效上的短促性。股吧發(fā)帖數(shù)、公告數(shù)與當(dāng)周和下一周的股價(jià)漲幅均不存在顯著相關(guān)性,而公司新聞量對(duì)當(dāng)周的股價(jià)漲幅有明顯的正向影響。媒體新聞與公司公告數(shù)幾乎沒(méi)有關(guān)聯(lián)性,但公司的新聞報(bào)道會(huì)在一定程度上引起投資者的關(guān)注。
[Abstract]:Whether the amount of news coverage of listed companies, as a reflection of media attention, and the attention of investors to specific listed companies or stocks will affect the operation of the corresponding stock prices, This is an important area of research in behavioral finance. Empirical research based on data translated from more than 370,000 pieces of information in the Oriental Wealth Bar, which has been tracking for six months, shows that investor interest is measured by the number of posts posted in the stock bar. The amount of company news and the number of announcements have significant effects on the price fluctuation of the relevant stocks during the week, and the number of announcements is negatively correlated with the volatility of the corresponding stock price, but this effect has a short-term effect on the time limit. There was no significant correlation between the number of announcements and the share price increases of the current week or the following week, but the amount of company news had a significant positive effect on the stock price increase of that week. There was almost no correlation between media news and the number of company announcements. But the company's news reports will, to some extent, attract investors' attention.
【作者單位】： 華東師范大學(xué)經(jīng)濟(jì)與管理學(xué)部;華東師范大學(xué)經(jīng)濟(jì)與管理學(xué)部實(shí)驗(yàn)室;
【分類號(hào)】：F832.51

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