ESG controversies and investor trading behavior in the Korean market

被引：27
|
作者：
Bang, Jeongseok [1 ]
Ryu, Doojin [1 ]
Yu, Jinyoung [2 ]
机构：
[1] Sungkyunkwan Univ, Dept Econ, Seoul, South Korea
[2] Sungkyunkwan Univ, Econ Res Inst, Seoul, South Korea
来源：
FINANCE RESEARCH LETTERS | 2023年 / 54卷
关键词：
ESG; Institutional investor; Investor trading behavior; Natural language processing;
D O I：
10.1016/j.frl.2023.103750
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study examines how investor trading behavior changes following environmental, social, and governance (ESG) controversies by analyzing textual news data. We use deep-learning-based natural language processing to classify news articles into specific categories of controversy. ESG controversies generally increase investors' trading activities regardless of their type, while their reactions differ by ESG pillar. Interestingly, domestic institutions tend to sell stocks with controversies.
引用
收藏
页数：6
相关论文
共 50 条
  • [21] Investor behavior around monetary policy announcements: Evidence from the Korean stock market
    Park, Keun Woo
    Hong, Dahae
    Oh, Ji Yeol Jimmy
    FINANCE RESEARCH LETTERS, 2019, 28 : 355 - 362
  • [22] Investor sentiment, trading behavior and stock returns
    Ryu, Doojin
    Kim, Hyeyoen
    Yang, Heejin
    APPLIED ECONOMICS LETTERS, 2017, 24 (12) : 826 - 830
  • [23] Corporate SDG performance and investor trading behavior
    Yang, Xinglong
    Chen, Zhang-HangJian
    Feng, Yujia
    Gao, Xiang
    Koedijk, Kees G.
    FINANCE RESEARCH LETTERS, 2024, 66
  • [24] Does Online Trading Change Investor Behavior?
    Barber B.M.
    Odean T.
    European Business Organization Law Review, 2002, 3 (1) : 83 - 128
  • [25] The impact of the investors' trading behavior on the return and the volatility in the recent Korean stock market
    Khil, Jaeuk
    Kim, Na Young
    Sohn, Yong Se
    ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, 2006, 35 (03) : 77 - 106
  • [26] Alphabetic Bias, Investor Recognition, and Trading Behavior*
    Jacobs, Heiko
    Hillert, Alexander
    REVIEW OF FINANCE, 2016, 20 (02) : 693 - 723
  • [27] Investor Trading Behavior and Sentiment in Futures Markets
    Gao, Bin
    Yang, Chunpeng
    EMERGING MARKETS FINANCE AND TRADE, 2018, 54 (03) : 707 - 720
  • [28] Investor trading behavior on agricultural future prices
    Zhou, Liyun
    Zhang, Rixin
    Huang, Jialiang
    NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE, 2019, 47 : 365 - 379
  • [29] Foreign investor trading behavior has evolved
    Onishchenko, Olena
    Ulku, Numan
    JOURNAL OF MULTINATIONAL FINANCIAL MANAGEMENT, 2019, 51 : 98 - 115
  • [30] Individuals' feedback trading in market and limit trades: Trading behaviours on the Korean stock market
    Lee, Hyo-Jeong
    INVESTMENT ANALYSTS JOURNAL, 2016, 45 (03) : 212 - 232
12345