Research On The Correlation Between Investors' Attention And The Performance Of Blockchain Concept Stocks

In the context of the Internet era,with the increasing amount of information,people's attention has gradually become a scarce resource.The stocks corresponding to the current hot industries or companies will attract more investors' attention,which makes the concept stocks become the hot plate of people's attention.This paper takes Baidu index as the proxy variable of investors' attention and uses the method of empirical research to analyze the correlation between investors'attention and the performance of blockchain concept stocks.First of all,this article reviewed the investor attention related theories in this field,through to the related research content found the lack of research in the field of play and deficiencies,based on this put forward in this paper,the research hypothesis and model design,and based on the concept of block chain plate 36 listed companies in the two years of Baidu index search volume,build the daily trading day,the day as well as the research scope in the annual total of three levels of 12 kinds of investor attention proxy variables.Then,Statal 5 is used for empirical analysis,and the results prove the relationship between investor attention and stock performance indicators such as stock return rate,turnover rate,stock volatility and stock price synchronization.Finally,according to the analysis results,it is concluded that investor attention has a certain impact on the performance of blockchain concept stocks.Specifically,there is a positive correlation between investor attention and the yield rate of blockchain concept board stocks,but there will be a phenomenon of price inversion during the lag period.There is a positive correlation between investors'attention and the turnover rate and trading volume of blockchain concept board stocks.There is a positive correlation between investor attention and stock price volatility of blockchain concept board stocks.Investors'attention accumulated in non-trading days will have a positive impact on the stock price jump in the first trading day after that.There is a positive correlation between investor attention and the synchronism of stock price in the blockchain concept boardThe empirical study of this paper can provide some guidance and Suggestions for small and medium-sized investors when they make investment decisions.At the same time,it provides theoretical reference for relevant regulatory authorities in the process of establishing the system,so as to establish the relevant system that can better protect the interests of the majority of small and medium-sized investors.