The Impact Of News Information On The Behavior Of Different Types Of Investors

News media plays a very important role in the development and expansion of China's securities market.The news media is growing,and the increasing degree of freedom of the news reports has greatly promoted the development of the securities market.At the same time,the information asymmetry is an important feature of the capital market,in this market,the news media transfer company‘s related information timely and effectively to Investors,so as to solve the problem of information asymmetry between internal and external as well as different types of investors.In this process,the impact of news information on investor attention will further affect the investor's trading behavior.Therefore,it is very important to study the influence of news information on investment behavior.Study on the historical relationship between open source information and capital market's long-standing,based on the previous research on the theory and method of using the panel data regression method of different types of news and information for different types of investors' behavior.Compared with previous research,the innovation of this paper is the type of news is divided into "working class" news that relate to the company's daily business news and "capital" news is related to the company's mergers and acquisitions,financing in the capital market operation information,At the same time,for investors,it will be divided into two types of individual investors and institutional investors,respectively,to carry out the regression and draw the conclusion.The study found: first,two kinds of news information are trading behavior of different types of investors have a significant impact;second: institutional investors and individual investors will be part of stock trading in "working class" press release;third: "capital" news on the two types of investors is more obvious.Investors pay more attention to this kind of news;Fourth: institutional investors for the sensitive degree of all kinds of news are better than those of individual investors.