@inproceedings{81a3930bd28f4f83b6386ac23aac8093,
title = "Investors' Attention Allocation to Stock Analysis: The Role of Rating Deviation",
abstract = "Stock analysis is important for investors. However, little is known about how investors allocate their attention to different analyses. In the last two decades, online investment communities (OICs) have proliferated. In this study, we use investors' online activities (i.e., comment and like) and amateur stock analysis in Seeking Alpha to explore how investors allocate their attention among different analyses by examining the effects of stock rating deviation on their attention. We measure the stock rating deviation of one analysis by comparing its stock rating with the previous rating for the same stock. The results show that the analyses with stock ratings that are more deviated from the existing ratings tend to receive more comments and likes from investors, indicating that rating deviation from the consensus positively impacts investor attention to stock analysis. In addition, the deviation's negativity and the stock volatility strengthen the impact of rating deviation on investor attention. However, analysts' busyness status negatively moderates this impact.",
author = "Yu Jin and Qiang Ye and Jingchuan Pu",
note = "Publisher Copyright: {\textcopyright} 2022 IEEE Computer Society. All rights reserved.; 55th Annual Hawaii International Conference on System Sciences, HICSS 2022 ; Conference date: 03-01-2022 Through 07-01-2022",
year = "2022",
language = "English (US)",
series = "Proceedings of the Annual Hawaii International Conference on System Sciences",
publisher = "IEEE Computer Society",
pages = "4422--4431",
editor = "Bui, \{Tung X.\}",
booktitle = "Proceedings of the 55th Annual Hawaii International Conference on System Sciences, HICSS 2022",
address = "United States",
}