本文選題：股吧　切入點：投資者關注　出處：《華東師范大學學報(哲學社會科學版)》2017年06期 　論文類型：期刊論文

【摘要】：作為體現(xiàn)媒體關注度的對上市公司的新聞報道量,以及投資者對特定上市公司或股票的關注度等是否會影響對應股票價格的運行,這乃是行為金融學的重要研究領域。基于持續(xù)跟蹤了半年之久的東方財富股吧中37萬多條信息轉化而來的數(shù)據(jù)進行的實證研究表明,以股吧中的發(fā)帖數(shù)衡量的投資者關注度、公司新聞量以及公告數(shù)對相關股票當周的價格波動幅度均分別具有較為顯著的影響,且公告數(shù)與對應股價的波幅呈負相關,但這種影響具有時效上的短促性。股吧發(fā)帖數(shù)、公告數(shù)與當周和下一周的股價漲幅均不存在顯著相關性,而公司新聞量對當周的股價漲幅有明顯的正向影響。媒體新聞與公司公告數(shù)幾乎沒有關聯(lián)性,但公司的新聞報道會在一定程度上引起投資者的關注。
[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】： 華東師范大學經(jīng)濟與管理學部;華東師范大學經(jīng)濟與管理學部實驗室;
【分類號】：F832.51

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