Google Search intensity and stock returns
in frontier markets: Evidence from the
Vietnamese market
Google Search intensity and stock returns
in frontier markets: Evidence from the
Vietnamese market
Author(s): Dang Thi Viet Duc, Van Phuoc Nguyen, Nguyen Anh Nguyet, Nguyen Hoai Thu, Dang Phong Nguyen, Ho Hong HaiSubject(s): Financial Markets, ICT Information and Communications Technologies, Socio-Economic Research
Published by: Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu
Keywords: Google search; Vietnam; COVID-19; investor attention; search intensity; stock returns; frontier markets;
Summary/Abstract: The study investigates investor attention's impact on stock trading by modeling the relationship between Google search intensity and stock return with stocks listed in frontier markets in Vietnam from October 2016 to October 2021. The study has three findings. First, the study confirms the price pressure hypothesis and attention theory that Google search intensity positively affects stock returns. Second, this study indicates that the impact of Google search intensity on stock price is short. The positive effect is within the week of searching and reverses the following week, although the reverse force is not strong. Third, the relationship is more robust post than pre-COVID-19, suggesting that after a shock, more new individual investors enter the market, the impact of GSVI on stock return is stronger.
Journal: Economics and Business Review
- Issue Year: 10/2024
- Issue No: 1
- Page Range: 30-56
- Page Count: 17
- Language: English
