JED
  • Home

  • |
  • Announcement

  • |
  • Event

  • |
  • Contact Us

  • Editorial Board

    • Editor-in-Chief
    • Editorial Team
  • Policies & Guidelines

    • Journal Information
    • Guidelines for Authors
    • Guidelines for Reviewers
    • Publication Ethics
  • Online Submission

    • Authors
    • Reviewers
    • Editors
  • Archives

    • Current Issue
    • All Issues
    • Search for Articles
  • Indexing & Abstracting

    • Scopus
    • Web of Science ESCI
    • Asean Citation Index
    • Google Scholar
    • V-CitationGate
    • Crossref
    • DOAJ
    • Cabell's Directories
    • EBSCO Discovery Service
    • ROAD
    • Summons (ProQuest)
    • WorldCat
    • ProQuest Central
    • EconLit

The current issue

Volume 27, Number 1, 2025
Volume 27, Number 1, 2025
Search for Articles
Home / Archives / All Issues / Volume 23, Number 1, 2021
Volume 23, Number 1, 2021 << Back
Journal of Economics and Development, Vol. 23 No. 1, pp. 59-76 | https://doi.org/10.1108/JED-02-2020-0015

Investors’ attention: does it impact the Nigerian stock market activities?

Osarumwense Osabuohien-Irabor

Abstract:

Purpose
The author investigates whether investors’ online information demand measured by Google search query and the changes in the numbers of Wikipedia page view can explain and predict stock return, trading volume and volatility dynamics of companies listed on the Nigerian Stock Exchange.

Design/methodology/approach
The multiple regression model which encompasses both the univariate and multivariate regression framework was employed as the research methodology. As part of our pre-analysis, we test for multicollinearity and applied the Wu/Hausman specification test to detect whether endogeneity exist in the regression model.

Findings
We provide novel and robust evidence that Google searches neither explain the contemporaneous nor predict stock return, trading volume and volatility dynamics. Similarly, results also indicate that trading volume and volatility dynamics have no relationship with changes in the numbers of Wikipedia pages view related to stock activities.

Originality/value
This study opens new strand of empirical literature of “investors' attention” in the context of African stock markets as empirical evidence. No evidence from previous studies on investors' attention exist, whether in Google search query or Wikipedia page view, with respect to African stock markets, particularly the Nigerian stock market. This study seeks to bridge these knowledge gaps by examining these relations.

Keywords:Google search, Wikipedia page view, Investors’ attention, Information demand, Volatility, Stock returns
Download full text:  

Other articles

  • The sustainability of Swedish fiscal policy: a re-examination

    Arcade Ndoricimpa

     
  • Remittances and corruption in Nigeria

    Folorunsho M. Ajide; John A. Olayiwola

     
  • An RBC model with non-Ricardian households: lessons for Bulgaria (1999–2018)

    Aleksandar Vasilev

     
  • Economic role of education in agriculture: evidence from rural Vietnam

    Le Khuong Ninh

     
#1406 Building A1, National Economics University, 207 Giai Phong, Hanoi
Tel: +84 (0) 24. 36280280 - Ext: 6407 | Email: submission@ktpt.edu.vn
Publishing License: 159/GP-BTTTT dated 08 May 2023
Copyright © Journal of Economics & Development. All rights reserved