LATEST PUBLICATIONS
PN 2020-09
Are Marine-protected Areas Sheltered from Plastic Pollution?
RPS 2020-05
Assessment of the Free Irrigation Service Act
INNOTECH RR-26-2020
Exploring Teachers' Whys: Understanding Motivation Among Teachers in the Philippines
PSR JA 2015-810
Kinship Networks and Resiliency to Flooding of Pagatban Riverside Communities in Negros Oriental
Publication Detail
DLSU-AKI Working Paper Series 2020-10-060: Discovering the Relationship Between Investor Attention and Trade Volume in the Philippine Stock Exchange Using Google Search Analysis

This study investigates the relationship between daily Google search volume and trade volume in the Philippine Stock Exchange. This is completed by employing a sample consisting of listed stocks in the Philippine Stock Exchange from 2015 to 2019 and testing the veracity of three different keyword categories in proxying investor attention. The empirical results indicate that when using company names and stock tickers as Google search keywords, there is a strong positive relationship between Google search volume and trade volume. This implies that the more investors search for a stock’s company name or ticker, the more likely that there will be an increase in that stock’s trade volume the following day. Additionally, this study finds evidence that when using stock tickers as Google search keywords, aggregate investor sentiment can influence this relationship, such that it is more significant during periods of high consumer confidence. The findings support the notion that daily Google search volume can measure investor attention and potentially serve as a supplementary stock indicator for retail investors in the Philippine Stock Exchange.

DLSU - Angelo King Institute for Economic and Business Studies - De La Salle University
Authors Keywords
Morando, Patrick Allan, G.; Banico, Isabel Louise, D.; Ng, Martin Stevens C.; Villardo, Riggs Mattieu M. ; ;
Download PDF Number of Downloads
Published in 2020 and available in the or can be downloaded as full text Downloaded 487 times since November 17, 2020