Return volatility and trading volume of GameFi

IF 4.3 2区经济学 Q1 BUSINESS, FINANCE

Journal of Behavioral and Experimental Finance Pub Date : 2024-06-28 DOI:10.1016/j.jbef.2024.100955

Guiqiang Shi , John W. Goodell , Dehua Shen

引用次数: 0

Abstract

Focusing on GameFi, we test theories regarding the relationship between return volatility and trading volume. These theories include the Mixture of Distribution Hypothesis (MDH) and the Sequential Information Arrival Hypothesis (SIAH). Empirical results indicate rejection of MDH and support for SIAH. These results are robust to alternative measurements of trading volume and return volatility. Subperiod analysis further reveals that SIAH is more pronounced during periods of high investor attention and low economic uncertainty. The results will be of interest to scholars interested in the robustness of established financial theories for revolutionary financial products.

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GameFi 的回报波动和交易量

我们以 GameFi 为重点，检验了有关回报波动与交易量之间关系的理论。这些理论包括混合分布假说（MDH）和序列信息到达假说（SIAH）。实证结果表明 MDH 被否定，SIAH 被支持。这些结果对交易量和回报波动性的其他测量方法是稳健的。分期分析进一步表明，在投资者高度关注和经济不确定性较低的时期，SIAH 更为明显。这些结果将对研究既定金融理论对革命性金融产品的稳健性的学者有所帮助。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Behavioral and Experimental Finance BUSINESS, FINANCE-

CiteScore

13.20

自引率

6.10%

发文量

审稿时长

69 days

期刊介绍： Behavioral and Experimental Finance represent lenses and approaches through which we can view financial decision-making. The aim of the journal is to publish high quality research in all fields of finance, where such research is carried out with a behavioral perspective and / or is carried out via experimental methods. It is open to but not limited to papers which cover investigations of biases, the role of various neurological markers in financial decision making, national and organizational culture as it impacts financial decision making, sentiment and asset pricing, the design and implementation of experiments to investigate financial decision making and trading, methodological experiments, and natural experiments. Journal of Behavioral and Experimental Finance welcomes full-length and short letter papers in the area of behavioral finance and experimental finance. The focus is on rapid dissemination of high-impact research in these areas.