谷歌搜索量指数与股市投资者关注度：系统性综述

IF 6.9 1区经济学 Q1 BUSINESS, FINANCE

Financial Innovation Pub Date : 2024-07-29 DOI:10.1186/s40854-023-00606-y

María José Ayala, Nicolás Gonzálvez-Gallego, Rocío Arteaga-Sánchez

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引用次数: 0

摘要

本研究系统回顾了将谷歌搜索量指数（GSVI）作为投资者关注度和股市走势替代变量的相关文献。我们使用 Web of Sciences 和 ScienceDirect 数据库分析了 2010 年至 2021 年间发表的 56 篇学术研究。根据建立 GSVI 的选择标准：搜索关键词、市场区域和数据样本的频率，对文章进行了分类和综合。接下来，我们分析了收益率、波动率和交易量对金融变量的影响。主要结果总结如下(1) 无论使用何种关键词、市场区域或样本频率，GSVI 与波动率和交易量都呈正相关。因此，增加投资者对特定金融术语的关注会增加波动性和交易量。(2）GSVI 可以改善股市波动的预测模型。总之，本研究首次整合了有关 GSVI 的研究文献，对该领域的学术从业人员极具参考价值。

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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Google search volume index and investor attention in stock market: a systematic review

This study systematically reviewed the literature on using the Google Search Volume Index (GSVI) as a proxy variable for investor attention and stock market movements. We analyzed 56 academic studies published between 2010 and 2021 using the Web of Sciences and ScienceDirect databases. The articles were classified and synthesized based on the selection criteria for building the GSVI: keywords of the search term, market region, and frequency of the data sample. Next, we analyze the effect of returns, volatility, and trading volume on the financial variables. The main results can be summarized as follows. (1) The GSVI is positively related to volatility and trading volume regardless of the keyword, market region, or frequency used for the sample. Hence, increasing investor attention toward a specific financial term will increase volatility and trading volume. (2) The GSVI can improve forecasting models for stock market movements. To conclude, this study consolidates, for the first time, the research literature on GSVI, which is highly valuable for academic practitioners in the area.

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来源期刊

Financial Innovation Economics, Econometrics and Finance-Finance

CiteScore

11.40

自引率

11.90%

发文量

审稿时长

5 weeks

期刊介绍： Financial Innovation (FIN), a Springer OA journal sponsored by Southwestern University of Finance and Economics, serves as a global academic platform for sharing research findings in all aspects of financial innovation during the electronic business era. It facilitates interactions among researchers, policymakers, and practitioners, focusing on new financial instruments, technologies, markets, and institutions. Emphasizing emerging financial products enabled by disruptive technologies, FIN publishes high-quality academic and practical papers. The journal is peer-reviewed, indexed in SSCI, Scopus, Google Scholar, CNKI, CQVIP, and more.