earticle

영어

Chinese government has issued a variety of regulatory policies regarding advanced stock market system to enhance stock market's efficiency. However, due to the Chinese stock market crash investors suffered huge financial loss in 2015, they aware of heightened uncertainty and investment risk in Chinese Stock Market. Thus it is a need of keeping an eye on investing activities from highest ratio of individual investor by means of understanding the type of individual investor and main interests in respect of market effectiveness in order to foster transparent and soundness of stock market. And so this study examined the individual investors' response to market shock between pre- and post-event period in accordance with trading halt or suspension relating to delisting from China stock exchange using text-clustering and topic analysis. We found that stock messages help predict the transition of individual's responses and topics depending on market shock through internet stock message boards in Guba community.