投資者關注度之影響因素探討 以台灣股票市場為例

The Determinants of Investor Attention: Evidence from Taiwan

黃泳龍(Weng-Long Vong)

指導教授 ： 陳彥行

國立臺灣大學/管理學院/財務金融學研究所/碩士(2016年)

https://doi.org/10.6342/NTU201610046

摘要

本論文觀察台灣股票市場中公司之Google搜尋量指數(SVI)與政治選舉、災難事件、交易日、研發支出等變數之關係，以研究投資者關注度之影響因素為何。論文之研究目標為台灣50指數中之成份股，樣本包含17,537個週觀察值與4,700個月觀察值。實證結果顯示投資者關注度隨著災難之發生而下降，並隨著每週之交易日數增加而上升。

關鍵字

投資者關注度 ； Google 搜尋量指數(SVI) ； 政治選舉 ； 災難 ； 交易日

並列摘要

This study investigates what determinants can explain investor attention on Taiwan stocks by observing the relationship between Google Search Volume Index and variables such as political elections, disaster events, trading days and research and development (R&D) expense. The sample consists of 17,537 weekly observations and 4,700 monthly observations based on fifty listed stocks of TW50. The empirical results show that investor attention decreases when disasters event occurs, and investor attention increases with number of trading days in a week. These interesting findings are not mentioned in past literature.

並列關鍵字

Investor Attention ； Google Search Volume Index (SVI) ； Political Elections ； Disasters ； Trading Days

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