Behavioral Attention by Google Trends: Evidence from the Car Industry
Behavioral Attention by Google Trends: Evidence from the Car Industry
Author(s): Jolana StejskalováSubject(s): Behaviorism, Social Informatics, Socio-Economic Research, Transport / Logistics
Published by: Ekonomický ústav SAV a Prognostický ústav SAV
Keywords: automobile industry; behavioural attention; behavioural finance; Dieselgate; financial crisis; Google Trends; sector sentiment;
Summary/Abstract: We investigated the link between stock returns of automobile companies, Fama French factors, and behavioral attention, represented by demand for a selected car brand belonging to an automobile company. Using Google search activity, we focus on the impact of searches about car brands on 17 automobile companies from 2004 to 2020. We concluded that even though general intuition provides positive results, negative historical events can result in a fall in prices in some cases. Dieselgate, an event specific to this industry, engulfed the affected company and resulted in an EU-wide scandal; however, the increase in interest did have not the same effect on automobile companies based in other countries.
Journal: Ekonomický časopis
- Issue Year: 71/2023
- Issue No: 03
- Page Range: 202-221
- Page Count: 20
- Language: English
