Therefore, the analysis of stock market dynamics usually depends on the availability of online information. If these retrieved data are analyzed systematically, investor sentiment in the real world can be effectively tracked. Investors leave behind data about what they are looking for every time they use a search engine. In view of the gradual popularity of the mobile Internet, it has become a standard practice for most investors to seek online information before making an investment decision. These data can usually provide investors with real-time information, thereby enhancing the scientific nature of investment decisions. The availability of big data brought about by search engines reinforces this trend. The use of information obtained from search engines for stock market return forecasts is gradually gaining attention. The main advantages of using Internet searches are that they are free, wide-ranging, and timeliness. Investors usually use enhanced information searches to cope with uncertainty and assist decision-making. With the popularization of mobile Internet, the emergence of big data information has completely changed the production, intermediary, dissemination, and consumption of information in the financial industry. Many studies have also theoretically explored the importance of information to financial markets. However, due to data limitations, most of the previous research has focused on the exploration of the role of micro-enterprise financial information. A growing body of literature shows that there is a complex correlation between information and financial market fluctuations. Information has become one of the most valuable assets in the financial market. This has important reference value both for investors in predicting stock trends and for the government's formulation of policies to prevent excessive stock market volatility. The empirical research in this paper finds that the forecast model including the Baidu index is significantly better than the benchmark model. Therefore, we constructed a GARCH extended model including the Baidu index to predict the return of epidemic stocks and compared it with the benchmark model. We believe that when seeking information to guide investment decisions, investor sentiment is usually affected by the information provided by the Baidu search engine, which may cause stock prices to fluctuate. In this paper, we regard the Baidu index as an indicator of investors' attention to China's epidemic stocks. 2School of Applied Science and Technology, Hainan University, Haikou, China.1School of Economics, Zhejiang University of Technology, Zhejiang, China.Baozhen Jiang 1 Haojie Zhu 2 Jinhua Zhang 1 * Cheng Yan 1 * Rui Shen 1
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |