| Summary: | 碩士 === 國立東華大學 === 財務金融學系 === 104 === This study explores stock return influenced by investor attention, and whether the institutional investors have information advantage. The sample included 666 stocks from the Taiwan Stock Exchange for the period 2010 to 2014, and excluded stocks from the financial and medical biotech industries, and stocks with less than one-year financial information. Using Google Trends search volume data to measure the degree of investor attention. This study finds an increase of investor attention, along with a significant increase of stock return for the same season, and institutional investors’ share holdings shows a positive impact on stock return. This study show that institutional investors have information advantage and use it to make profit.
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