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Title: Effect of financial news on investors' trading behavior
Other Titles: Cai jing xin wen dui tou zi zhe tou zi xing wei zhi ying xiang
Authors: Huang, Hui (黃慧)
Department: Department of Media and Communication
Degree: Master of Philosophy
Issue Date: 2009
Publisher: City University of Hong Kong
Subjects: Newspapers -- Sections, columns, etc. -- Finance.
Stocks -- Psychological aspects -- China -- Hong Kong.
Hong Kong newspapers.
Notes: CityU Call Number: PN4784.F5 H83 2009
vi, 105 leaves 30 cm.
Thesis (M.Phil.)--City University of Hong Kong, 2009.
Includes bibliographical references (leaves 67-72)
Type: thesis
Abstract: Communication scholars have long been feeling their way to understand “media effects” -- effects that change or reinforce people’s knowledge, perceptions, attitudes, values as well as behaviors. Despite voluminous research on media effects, study of financial media’s impact on people’s investment decisions and behaviors is rather limited. This study examined how financial news affected individual investors’ investment behavior, specially trading frequency, in the Hong Kong stock market. It explored the financial news effects on individual investors based on communication theories, psycho-behavioral theories, as well as behavioral finance theory. It has proposed a conceptual framework that incorporates the uses and gratifications theory and the theory of planned behavior (TPB). A questionnaire was administered to 300 Hong Kong individual investors while a content analysis was used to identify the financial news contents, specially “shorting” or “frequent trading” information on different newspapers in Hong Kong. Path analyses using Amos 7.0 suggested the using of financial news had a strong effect on people’s attitude, intention and behavior.
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