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Investor's Anticipation and Future Market Movement: Evidence of Self-Fulfilling Prophecy Effect from the the Chinese Stock Market

13 Pages Posted: 28 Jan 2020 Publication Status: Accepted

See all articles by Yun Wan

Yun Wan

University of Houston, Victoria

Xiaoguang Yang

Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science

Abstract

We analyzed data collected from retail investors in the Chinese stock market from a Fintech mobile platform to find evidence of the self-fulfilling prophecy effect. We found a statistically significant correlation between the predicted and actual Shanghai Stock Exchange Composite Index (SSECI) as well as non-random deviation patterns. We also analyzed participating investor behaviors and discussed the implications and future research.

Keywords: stock market index, prediction, self-fulfilling prophecy effect, Fintech

Suggested Citation

Wan, Yun and Yang, Xiaoguang, Investor's Anticipation and Future Market Movement: Evidence of Self-Fulfilling Prophecy Effect from the the Chinese Stock Market. Available at SSRN: https://ssrn.com/abstract=3507493 or http://dx.doi.org/10.2139/ssrn.3507493

Yun Wan (Contact Author)

University of Houston, Victoria ( email )

281-313-0084 (Phone)

HOME PAGE: http://www2.uhv.edu/wany

Xiaoguang Yang

Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science ( email )

Beijing
China

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