All that Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors

By Brad M. Barber, Terrance Odean. 2008

4,404 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/fa5d712557292de67399bef1beedcc13a08311c4

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Citations in the corpus

Rumor Has It: Sensationalism in Financial Media (2015, background): “Consistent with the “all that glitters” motivation for trading presented in Barber and Odean (2008), this pattern could reflect that individuals trade following the news story. In contrast, the institutions in our sample are not active traders on media rumors. They simply provide liquidity to indivi”
The Role of the Media in the Internet IPO Bubble (2009, background): “…shows that media exposure is associated with investors’ stock picking and trading activities (Falkenstein (1996), Wysocki (1999), Huberman and Regev (2001), Antweiler and Frank (2004), Antunovich and Sarkar (2006), Chen, Noronha, and Singal (2006), Barber and Odean (2008), and Tetlock (2007)).”
The Role of Newswires in Screening and Disseminating Value-Relevant Information in Periodic SEC Reports (2011, background): “To the extent that small trades are more representative of individual trading, DJCFA service is acting as an attention-grabber that facilitates trades by individual investors (Barber and Odean 2008).”
On the Marketing of IPOs (2006, neutral): “evidence is also consistent with Barber and Odean’s (2002) evidence for seasoned equities.”
Capital market effects of media synthesis and dissemination: evidence from robo-journalism (2017, positive): “However, price discovery could be slowed if the automated articles motivate biased buying that drives up prices or if the automated articles cause a subset of investors to overreact to the firm’s earnings news (Odean 1998; Barber and Odean 2008; Tetlock 2011; Fang et al. 2014).”
The ostrich effect: Selective attention to information (2009, background): “Barber and Odean (2008) predict and find that individual investors, as compared with institutional investors, tend to be net buyers of attention-grabbing stocks—e.g., those that receive special news coverage.”
WSJ Category Kings - the impact of media attention on consumer and mutual fund investment decisions (2017, positive): “Similarly, Barber and Odean (2008) construct a measure based on mentions of companies in the Dow Jones News Service daily feed, as one of three proxies for media attention. They find that investors are more likely to be net buyers of stocks mentioned in the news than of those not mentioned.(7) Kanie”
Managers’ and Investors’ Responses to Media Exposure of Board Ineffectiveness (2009, positive): “Barber and Odean (2008) suggest that attention has a stronger impact on what individual investors buy than on what they sell.”