臺灣博碩士論文加值系統

本論文觀察台灣股票市場中公司之Google搜尋量指數(SVI)與政治選舉、災難事件、交易日、研發支出等變數之關係，以研究投資者關注度之影響因素為何。論文之研究目標為台灣50指數中之成份股，樣本包含17,537個週觀察值與4,700個月觀察值。實證結果顯示投資者關注度隨著災難之發生而下降，並隨著每週之交易日數增加而上升。

This study investigates what determinants can explain investor attention on Taiwan stocks by observing the relationship between Google Search Volume Index and variables such as political elections, disaster events, trading days and research and development (R&D) expense. The sample consists of 17,537 weekly observations and 4,700 monthly observations based on fifty listed stocks of TW50. The empirical results show that investor attention decreases when disasters event occurs, and investor attention increases with number of trading days in a week. These interesting findings are not mentioned in past literature.

I. Introduction 1
II. Data and Methodology 2
A. Google Search Volume 2
B. The Regression Model 6
C. Dependent Variables 7
i. Existing Proxies of Attention 7
ii. Key Independent Variables of Interest 9
III. Result 11
IV. Conclusion 14
References 15

TABLES
Table I. Demonstration for Adjustments of SVI 17
Table II. Variable Definitions 18
Table III Summary Statistics 19
Table IV. Regression Result - Weekly ln(1+SVI) 21
Table V. Regression Result - Monthly ln(1+SVI) 22
Table VI. Regression Result - Monthly ln(1+Ticker SVI) 23
Table VII. Tobit Regression Result - ln(1+SVIs) 24
Table VIII. Regression Result - Weekly Abnormal SVI 25
Table IX. Regression Result - Monthly Abnormal SVI 26
Table X. Regression Result - Monthly Abnormal Ticker SVI 27

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