Limited attention of individual investors and stock performance: Evidence from the ChiNext market

摘要

We explore the relationship between the individual investor's attention and stock performance based on the ChiNext stock market. Our findings indicate that individual investor's attention can affect the performance of the stock market. Limited attention of investors exerts a positive price pressure, and the reversal of this price pressure will occur in the short term. We also verify that investor attention on non-trading days has a significant impact on the price gap for the next week's opening price. (C) 2015 Elsevier B.V. All rights reserved.