网络社交媒体提升了股票市场流动性吗?——基于投资者互动视角的研究

被引：19

作者：

李思龙 ^{[1
]}

金德环 ^{[2
]}

李岩 ^{[3
]}

机构：

[1] 山东工商学院金融学院

[2] 上海财经大学金融学院,上海市金融信息技术研究重点实验室

[3] 上海财经大学金融学院

来源：

金融论坛 | 2018年 / 23卷 / 07期

关键词：

社交媒体; 投资者互动; 股东基数; 信息不对称; 股票流动性;

D O I：

10.16529/j.cnki.11-4613/f.2018.07.005

中图分类号：

F832.51 [];

学科分类号：

摘要：

本文从投资者互动的角度研究其对股票市场流动性的影响,从股东基数和信息不对称两方面分析投资者互动影响股票流动性的机理,结果表明:(1)投资者互动增加了上市公司的股东基数,表明投资者互动驱动了投资者交易股票。(2)信息不对称越大,投资者互动对股票流动性的促进作用越强,说明投资者互动减少了投资者间的信息不对称,降低了非知情交易者要求的信息补偿。

引用

页码：35 / 49+63 +63

页数：16

共 26 条

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