Journal of Information Technology Services (한국IT서비스학회지)

Korea Society of IT Services (한국IT서비스학회)
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A Study on the Relation of Web News and Stock Price

웹 뉴스의 양과 주가의 관계에 관한 연구

  • 김상수 (한국과학기술원 경영대학 공공혁신 전자정부 연구센터) ;
  • 남달우 (한국과학기술원 경영대학) ;
  • 조현 (한국과학기술원 경영대학 테크노 경영 연구소) ;
  • 김성희 (한국과학기술원 경영대학)
  • Received : 2012.07.27
  • Accepted : 2012.09.17
  • Published : 2012.09.30
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Abstract

In the stock market, the investors rely on stock information to trade. Good information may stimulate buying, raising the stock prices and the bad information may result in selling, decreasing the stock prices. In terms of the relationship between information and stock prices, stock prices can be viewed as reaction of investors to all the information flowing into the market. The significant increase of web stock news volume is often associated with the significant changes of stock prices. When the web stock news volume for a firm increases significantly, the stock price movement is often oscillatory. This paper attempts to investigate the relationship between volumes of information from Korean web IT and stock prices in Korean stock market. This research shows that when the web stock news volume increases significantly, volatility, trading volumes and rate of returns are increase too. The results of the study provide us with the new clues to the microstructure of the stock market from the perspective of the web news.

Keywords

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