Investors’ cognitive dissonance in the stock market and the role of media
碩士 === 國立高雄大學 === 金融管理學系碩士班 === 101 === The aim of this study is to explore the effect of the most possible unknown (the initial media coverage of a certain company’s earnings revision) and known (the official announcement of a certain company’s earnings revision) earnings-related news on stock retu...
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ndltd-TW-101NUK052130092016-03-21T04:28:04Z http://ndltd.ncl.edu.tw/handle/61904792863871123431 Investors’ cognitive dissonance in the stock market and the role of media 股市投資人的認知失調與媒體的角色 Pei-shan Kao 高珮珊 碩士 國立高雄大學 金融管理學系碩士班 101 The aim of this study is to explore the effect of the most possible unknown (the initial media coverage of a certain company’s earnings revision) and known (the official announcement of a certain company’s earnings revision) earnings-related news on stock returns, trading volume, and return volatility. In comparison with previous literature, this study takes a further look at the informational content of earnings-related news, including the investigations on short-term stock price, trading volume, return volatility, and long-term stock price. Additionally, this study examines the investors’ cognitive dissonance and the role of media. Empirical results indicate that both unknown and known earnings-related news provide useful information content to stock market. Moreover, cognitive dissonance and disposition effect have a great impact on investors’ reaction to the announcements of earnings-related news. In the end, the media play an important role on investors’ trading decision-making. Chih-hsiang Chang 張志向 2013 學位論文 ; thesis 98 zh-TW |
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碩士 === 國立高雄大學 === 金融管理學系碩士班 === 101 === The aim of this study is to explore the effect of the most possible unknown (the initial media coverage of a certain company’s earnings revision) and known (the official announcement of a certain company’s earnings revision) earnings-related news on stock returns, trading volume, and return volatility. In comparison with previous literature, this study takes a further look at the informational content of earnings-related news, including the investigations on short-term stock price, trading volume, return volatility, and long-term stock price. Additionally, this study examines the investors’ cognitive dissonance and the role of media. Empirical results indicate that both unknown and known earnings-related news provide useful information content to stock market. Moreover, cognitive dissonance and disposition effect have a great impact on investors’ reaction to the announcements of earnings-related news. In the end, the media play an important role on investors’ trading decision-making.
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author2 |
Chih-hsiang Chang |
author_facet |
Chih-hsiang Chang Pei-shan Kao 高珮珊 |
author |
Pei-shan Kao 高珮珊 |
spellingShingle |
Pei-shan Kao 高珮珊 Investors’ cognitive dissonance in the stock market and the role of media |
author_sort |
Pei-shan Kao |
title |
Investors’ cognitive dissonance in the stock market and the role of media |
title_short |
Investors’ cognitive dissonance in the stock market and the role of media |
title_full |
Investors’ cognitive dissonance in the stock market and the role of media |
title_fullStr |
Investors’ cognitive dissonance in the stock market and the role of media |
title_full_unstemmed |
Investors’ cognitive dissonance in the stock market and the role of media |
title_sort |
investors’ cognitive dissonance in the stock market and the role of media |
publishDate |
2013 |
url |
http://ndltd.ncl.edu.tw/handle/61904792863871123431 |
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