Luo, Yilin; Hong, Jianqiao; Ni, Chenkai; Wang, Guochen - In: China journal of accounting studies 8 (2020) 1, pp. 121-153
We examine whether individual investors in China have the ability to acquire and process the information of industry peers. We exploit the initial earnings announcement within each industry-quarter during 2015-2017 and use the frequency of investors’ daily discussions on the Xue Qiu platform...