| Summary: | 碩士 === 銘傳大學 === 財務金融學系碩士班 === 104 === This study examines the relationship between online search intensity and stock-trading behavior in the Taiwan market. The search intensity is measured by the search volume of company names on Google. Our sample consists of 56 Taiwan stocks searched between 2008 and 2015. This study uses Fama-French three-factor model and Panel data that are used Hausman test to decide this study uses fix effect model. We find correlations with search intensity that are positive for stock returns and strongly positive for trading volume. About the size effect that the high Market capitalization and high search volume are positive for stock returns when search volume increase at short time, but low Market capitalization and high search volume are positive for stock returns only when search volume increase at long time. On the other hand, high investor sentiment and high search volume are negative for stock returns and positive for trading volume, because sellers are pessimistic, but low investor sentiment and high search volume positive for stock returns and negative for trading volume, because sellers are optimistic.
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