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Financial Attention
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DOI：10.1093/rfs/hhv073.png)
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摘要
En 中文
This paper investigates financial attention using novel panel data on daily investor online account logins. We find support for selective attention to portfolio information. Account logins fall by 9.5% after market declines. Investors also pay less attention when the VIX volatility index is high. The level of attention and the attention/return correlation are strongly related to investor demographics (gender, age) and financial position (wealth, holdings). Using a new statistical decomposition, we show how aggregate and individual household trading are related to investor attention.
Keyword:
LIMITED ATTENTION
MARKET
INFORMATION
INVESTORS
RETURNS
RISK
UTILITY
ANTICIPATION
CONSUMPTION
VOLATILITY
期刊
IF:
5.4
论文数:
2.8K
被引数:
3.0W
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引用论文
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AMERICAN ECONOMIC REVIEW
OAAI
AMERICAN ECONOMIC REVIEWIF11.6
OAAI分享收藏分享收藏All that glitters: The effect of attention and news on the buying behavior of individual and institutional investors闪闪发光: 关注和新闻对个人和机构投资者购买行为的影响
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