Investor’s Anticipation and Future Market Movement: Evidence of Self-Fulfilling Prophecy Effect from Chinese Stock Market
Investor’s Anticipation and Future Market Movement: Evidence of Self-Fulfilling Prophecy Effect from Chinese Stock Market
Date
2018-01-03
Authors
Wan, Yun
Yang, Xiaoguang
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Abstract
We analyzed data collected from retail investors in Chinese stock market from a fin-tech mobile platform to find evidence of self-fulfilling prophecy effect. We found statistically significant correlation between the predicted and actual Shanghai Stock Exchange Composite Index (SSECI) as well as non-random deviation patterns. We also analyzed participating investor behaviors and discussed the implications and future research.
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Crowd-based Platforms,
behavioral finance, crowdsourcing, irrational behavior, self-fulfilling prophecy, stock market
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6 pages
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Proceedings of the 51st Hawaii International Conference on System Sciences
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Attribution-NonCommercial-NoDerivatives 4.0 International
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