Jurnal Keuangan dan Perbankan Universitas Merdeka Malang
Investor attention and return reversal in sneakers resale market
Dublin Core
Title
Jurnal Keuangan dan Perbankan Universitas Merdeka Malang
Investor attention and return reversal in sneakers resale market
Investor attention and return reversal in sneakers resale market
Subject
Investor attention; Return reversal; Sneakers resale market
Description
Sneakers, traditionally refer to rubber-soled shoes, are worth more than just footwear nowadays. Resellers believe that sneakers may be considered an investmentgrade item due to the profit they booked in recent years. To the best of our knowledge, no former research has investigated the sneakers’ resale market behavior specifically. Considering the global sneakers resale market’s growth, we aim to analyze investor attention’s association with sneakers’ return in the sneakers resale market. We use hand-collected sneakers data from StockX.com website and Google Search
Volume Index (SVI) as the proxy of investor attention. Based on the system GMM dynamic panel data analysis using some best-seller sneakers as the sample, we conclude that an increase in investor attention tends to increase the sneakers’ return as well. Furthermore, the GMM and Fama-Macbeth regression results robustly show short-term return reversals indicated by the negative impact of sneakers’ return in the previous period to sneakers’ return in the current period. The return reversal may indicate that sneakers’ price and return are driven by attention-grabbing information rather than fundament
Volume Index (SVI) as the proxy of investor attention. Based on the system GMM dynamic panel data analysis using some best-seller sneakers as the sample, we conclude that an increase in investor attention tends to increase the sneakers’ return as well. Furthermore, the GMM and Fama-Macbeth regression results robustly show short-term return reversals indicated by the negative impact of sneakers’ return in the previous period to sneakers’ return in the current period. The return reversal may indicate that sneakers’ price and return are driven by attention-grabbing information rather than fundament
Creator
Deliana, Irwan Adi Ekaputra
Source
http://jurnal.unmer.ac.id/index.php/jkdp
Publisher
Universitas Merdeka Malang
Date
July 2020
Contributor
Sri Wahyuni
Rights
ISSN: 2443-2687 (Online) ISSN: 1410-8089 (Print)
Format
PDF
Language
English
Type
Text
Coverage
Jurnal Keuangan dan Perbankan Universitas Merdeka Malang
Files
Collection
Citation
Deliana, Irwan Adi Ekaputra, “Jurnal Keuangan dan Perbankan Universitas Merdeka Malang
Investor attention and return reversal in sneakers resale market,” Repository Horizon University Indonesia, accessed November 21, 2024, https://repository.horizon.ac.id/items/show/4742.
Investor attention and return reversal in sneakers resale market,” Repository Horizon University Indonesia, accessed November 21, 2024, https://repository.horizon.ac.id/items/show/4742.