Reaction to news in the Chinese stock market: A study on Xiong'an New Area Strategy

被引：28
|
作者：
Li, Kun [1 ]
机构：
[1] Beijing Normal Univ, Business Sch, Houzhulou Bldg,19 Xinjiekouwai St, Beijing 100875, Peoples R China
来源：
JOURNAL OF BEHAVIORAL AND EXPERIMENTAL FINANCE | 2018年 / 19卷
关键词：
Chinese stock market; Xiong'an New Area; News; Intra-day data;
D O I：
10.1016/j.jbef.2018.03.004
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study investigates how stock markets react to different news categorized by diverse aspects. We take the Xiong'an New Area Strategy, the most recent breaking event and milestone national plan in China, as the target to study. We collect Xiong'an-related news and classify them by different aspects: sentiment, source and origin of viewpoints. Our results indicate that positive news improves the performance of the stock market and the trading of individual stocks, whereas negative news impedes them. News from government-related media has greater effects on stock market and stocks than news from other sources. News with viewpoints from academia has greater effects than news with viewpoints from governments and industries. (C) 2018 Elsevier B.V. All rights reserved.
引用
收藏
页码：36 / 38
页数：3
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