{
  "id": 17525396,
  "title": "Sejong University team finds link between retail investor attention, lower stock returns",
  "url": "https://urgent.news/2026/11/01/sejong-university-team-finds-link-between-retail-investor-attention",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-01T03:17:02.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/southkorea/education/20261101/sejong-university-team-finds-link-between-retail-investor-attention-lower-stock-returns"
  },
  "original_language": "en",
  "account": "A research team from Sejong University has discovered that retail investors' heightened attention towards specific stocks often leads to reduced returns for those stocks in the future. The study, published in the esteemed Journal of International Financial Markets, Institutions & Money in the past month, was spearheaded by Professor Lee Eun-mi from the College of Business and Economics, along with doctoral students Yang Pujian and Yang Liu. The paper, titled \"The Retreat of Arbitrage Capital: Attention Level and Nonlinear Order Flow Dynamics,\" lists Yang Pujian as the primary author, with Lee and Liu as co-authors. The researchers delved into the impact of retail investor attention on the actions of institutional traders and overall stock market returns. The study analyzed data from China's A-share market, which covered the period from 2012 to 2024. They utilized the Search Volume Index (SVI) provided by Baidu, China's leading search engine, to gauge investor attention. The findings revealed that stocks which capture more attention from retail investors tend to yield comparatively lower returns over time.",
  "summary": "A research team at Sejong University has found that stocks attracting greater attention from retail investors tend to generate lower returns in subsequent periods. The university said the findings were published last month in the prestigious Journal of International Financial Markets, Institutions & Money. The team was led by Lee Eun-mi, a professor at the university’s College of Business and…",
  "key_points": [
    "Sejong University researchers find retail investor attention lowers stock returns",
    "Study published in Journal of International Financial Markets, Institutions & Money",
    "Data analyzed from China's A-share market 2012-2024"
  ],
  "editors_take": "Increased retail interest in specific stocks serves as a warning sign for future performance, suggesting that heightened public attention can inadvertently signal diminishing returns for individual investors.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}