Does Popularity of Political Leaders Matter in the Indian Stock Markets? A Comparative Study of Four Lok Sabha Elections from 2004 to 2019

Sinha, Paritosh Chandra

doi:10.51245/rijbr.v4i1.2019.162

Cited by 2 publications

(1 citation statement)

References 41 publications

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“…In the first layer, Google SVI data show the relative popularity of searches within the set time range in India. These data for E-attributes, P-attributes and H-attributes are likely to provide for their respective popularity attention effects with the variables of SVIE, SVIP and SVIH (Sinha, 2019b). In exploring investors' focused attention effects on the NSE Nifty (R N t…”

Section: Attention Layers and Hypothesesmentioning

confidence: 99%

Noise of Investors’ Attention Mania in the 21st Century Indian Stock Markets

Sinha

2021

Ramanujan International Journal of Business and Research

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This paper characterises neoclassical investors as behavioral listeners rather than rational activists in their choices of attention searches online. It proposes that investors' attention search is distributed at three different attention layersfocused, selective and homogenized attention layers. It employs three sets of attention attributes on economics, politics, and political party and personality, and empirically, examines if attention search keywords at different attention layers have attention impacts on the NSE Nifty and BSE Sensex market returns. At group-wise attention attributes, the paper shows that investors' attention impacts are scattered over attributes and related to economics, politics, and political parties and personalities. With the ARDL models, at economic attributes, it finds local vis-à-vis global attention impacts and the presence of familiarity bias on both stock markets' returns and the noise of "investors' attention mania" (IAM) at the other sets of attention attributes. Furthermore, these effects vary across different attention layers.

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Section: Attention Layers and Hypothesesmentioning

confidence: 99%

Noise of Investors’ Attention Mania in the 21st Century Indian Stock Markets

Sinha

2021

Ramanujan International Journal of Business and Research

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Noise of Investors’ Attention Mania in the Twenty-first-Century Indian Stock Markets: ARDL and Augmented GARCH-X Models

Sinha¹

2021

Global Business Review

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What brings the equilibrium consensus in the stock markets? We hypothesize that the markets’ equilibrium consensus depends on the noise of investors’ attention mania (NIAM). We refer to the NIAM as investors’ attention heterogeneity and explore its impacts on the National Stock Exchange (NSE) Nifty and Bombay Stock Exchange (BSE) Sensex stocks market returns. We use the methodology of the autoregressive distributed lag (ARDL) and augmented generalized autoregressiuve conditional heteroskedacity (GARCH)-X model, and we examine if there is the presence of NIAM at online attention searches within and across the attention layers, and within and across the stated two stock markets from 2004 to 2019 for investors’ economic–political attention searches. We have revealed that the impacts of the NIAM on the market returns are diverse in nature at the different attention layers and stock markets as well. Besides the ARCH and GARCH effects, we also document the presence of familiarity bias, attention confidence or confusion, and attention integration in the short run and long run.

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Does Popularity of Political Leaders Matter in the Indian Stock Markets? A Comparative Study of Four Lok Sabha Elections from 2004 to 2019

Cited by 2 publications

References 41 publications

Noise of Investors’ Attention Mania in the 21st Century Indian Stock Markets

Noise of Investors’ Attention Mania in the 21st Century Indian Stock Markets

Noise of Investors’ Attention Mania in the Twenty-first-Century Indian Stock Markets: ARDL and Augmented GARCH-X Models

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