Predicting power of ticker search volume in Indian stock market
This study examines the ability of online ticker searches to serve as a valid proxy for investor sentiment and forecast stock returns and trading volumes in the Indian financial market. In contrast to the findings in prior research, we observe that ticker search volumes do not exhibit any predictive...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Elsevier
2022-06-01
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| Series: | IIMB Management Review |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S0970389622000489 |
| _version_ | 1817993316833165312 |
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| author | Ishani Chaudhuri Parthajit Kayal |
| author_facet | Ishani Chaudhuri Parthajit Kayal |
| author_sort | Ishani Chaudhuri |
| collection | DOAJ |
| description | This study examines the ability of online ticker searches to serve as a valid proxy for investor sentiment and forecast stock returns and trading volumes in the Indian financial market. In contrast to the findings in prior research, we observe that ticker search volumes do not exhibit any predictive value for future excess stock returns. However, we find a weak but significant positive effect of ticker search volumes on trading volume with a two-week lag. A battery of robustness checks supports our findings. Our work warns the investors from possible misleading insights arising from search volume and stock returns related studies. |
| first_indexed | 2024-04-14T01:37:27Z |
| format | Article |
| id | doaj.art-2e0391f906db4ae3a37c69cd1b62cd31 |
| institution | Directory Open Access Journal |
| issn | 0970-3896 |
| language | English |
| last_indexed | 2024-04-14T01:37:27Z |
| publishDate | 2022-06-01 |
| publisher | Elsevier |
| record_format | Article |
| series | IIMB Management Review |
| spelling | doaj.art-2e0391f906db4ae3a37c69cd1b62cd312022-12-22T02:19:53ZengElsevierIIMB Management Review0970-38962022-06-01342143152Predicting power of ticker search volume in Indian stock marketIshani Chaudhuri0Parthajit Kayal1Madras School of Economics (MSE), Gandhi Mandapam Road, Behind Government Data Centre, Kottur, Chennai, IndiaCorresponding author.; Madras School of Economics (MSE), Gandhi Mandapam Road, Behind Government Data Centre, Kottur, Chennai, IndiaThis study examines the ability of online ticker searches to serve as a valid proxy for investor sentiment and forecast stock returns and trading volumes in the Indian financial market. In contrast to the findings in prior research, we observe that ticker search volumes do not exhibit any predictive value for future excess stock returns. However, we find a weak but significant positive effect of ticker search volumes on trading volume with a two-week lag. A battery of robustness checks supports our findings. Our work warns the investors from possible misleading insights arising from search volume and stock returns related studies.http://www.sciencedirect.com/science/article/pii/S0970389622000489Online tickerGoogle search volumeStock returnsTrading volume |
| spellingShingle | Ishani Chaudhuri Parthajit Kayal Predicting power of ticker search volume in Indian stock market IIMB Management Review Online ticker Google search volume Stock returns Trading volume |
| title | Predicting power of ticker search volume in Indian stock market |
| title_full | Predicting power of ticker search volume in Indian stock market |
| title_fullStr | Predicting power of ticker search volume in Indian stock market |
| title_full_unstemmed | Predicting power of ticker search volume in Indian stock market |
| title_short | Predicting power of ticker search volume in Indian stock market |
| title_sort | predicting power of ticker search volume in indian stock market |
| topic | Online ticker Google search volume Stock returns Trading volume |
| url | http://www.sciencedirect.com/science/article/pii/S0970389622000489 |
| work_keys_str_mv | AT ishanichaudhuri predictingpoweroftickersearchvolumeinindianstockmarket AT parthajitkayal predictingpoweroftickersearchvolumeinindianstockmarket |