Unraveling the Effects of Google Search on Volatility of Cryptocurrencies

Zhao Cai; Albert Fei Liu; Eric T. K. Lim; Chee-Wee Tan; Zhiqiang  Zheng

Unraveling the Effects of Google Search on Volatility of Cryptocurrencies

Zhao Cai, Albert Fei Liu, Eric T. K. Lim, Chee-Wee Tan, Zhiqiang Zheng

Institut for Digitalisering

Publikation: Bidrag til bog/antologi/rapport › Konferencebidrag i proceedings › Forskning › peer review

Abstract

Although cryptocurrencies have garnered enormous public attention in recent times, extensive fluctuations in their prices have deterred prospective investors. Due to the absence of a centralized valuation authority, the credibility of cryptocurrencies as a viable investment vehicle remains elusive. Building on attention theory, this study posits that prospective investors of cryptocurrencies are likely to search online for information before deciding whether to make a commitment. We hence investigate the effects of Google search on the return and risk of 268 cryptocurrencies over 181 trading days. Results indicate that the Google Search Volume Index (SVI) of a given cryptocurrency exerts significant and positive impact on its price and turnover.

Originalsprog	Engelsk
Titel	Proceedings of the 39th International Conference on Information Systems (ICIS)
Antal sider	9
Udgivelsessted	Atlanta, GA
Forlag	Association for Information Systems. AIS Electronic Library (AISeL)
Publikationsdato	2018
ISBN (Elektronisk)	9780996683173
Status	Udgivet - 2018
Begivenhed	The 39th International Conference on Information Systems. ICIS 2018: Bridging the Internet of People, Data, and Things - San Francisco, USA Varighed: 13 dec. 2018 → 16 dec. 2018 Konferencens nummer: 39 https://icis2018.aisconferences.org/

Konference

Konference	The 39th International Conference on Information Systems. ICIS 2018
Nummer	39
Land/Område	USA
By	San Francisco
Periode	13/12/2018 → 16/12/2018
Internetadresse	https://icis2018.aisconferences.org/

Navn	Proceedings of the International Conference on Information Systems
ISSN	0000-0033

Emneord

Cryptocurrency
Attention economy
Google search
Return
Risk

Adgang til dokumentet

https://aisel.aisnet.org/cgi/viewcontent.cgi?article=1275&context=icis2018Licens: Ikke-specificeret

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Citationsformater

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title = "Unraveling the Effects of Google Search on Volatility of Cryptocurrencies",

abstract = "Although cryptocurrencies have garnered enormous public attention in recent times, extensive fluctuations in their prices have deterred prospective investors. Due to the absence of a centralized valuation authority, the credibility of cryptocurrencies as a viable investment vehicle remains elusive. Building on attention theory, this study posits that prospective investors of cryptocurrencies are likely to search online for information before deciding whether to make a commitment. We hence investigate the effects of Google search on the return and risk of 268 cryptocurrencies over 181 trading days. Results indicate that the Google Search Volume Index (SVI) of a given cryptocurrency exerts significant and positive impact on its price and turnover. ",

keywords = "Cryptocurrency, Attention economy, Google search, Return, Risk, Cryptocurrency, Attention economy, Google search, Return, Risk",

author = "Zhao Cai and Liu, {Albert Fei} and Lim, {Eric T. K.} and Chee-Wee Tan and Zhiqiang Zheng",

year = "2018",

language = "English",

series = "Proceedings of the International Conference on Information Systems",

booktitle = "Proceedings of the 39th International Conference on Information Systems (ICIS)",

publisher = "Association for Information Systems. AIS Electronic Library (AISeL)",

note = "39th International Conference on Information Systems, ICIS 2018 ; Conference date: 13-12-2018 Through 16-12-2018",

url = "https://icis2018.aisconferences.org/",

}

Cai, Z, Liu, AF, Lim, ETK, Tan, C-W & Zheng, Z 2018, Unraveling the Effects of Google Search on Volatility of Cryptocurrencies. i Proceedings of the 39th International Conference on Information Systems (ICIS). Association for Information Systems. AIS Electronic Library (AISeL), Atlanta, GA, Proceedings of the International Conference on Information Systems, The 39th International Conference on Information Systems. ICIS 2018, San Francisco, California, USA, 13/12/2018. <https://aisel.aisnet.org/cgi/viewcontent.cgi?article=1275&context=icis2018>

Unraveling the Effects of Google Search on Volatility of Cryptocurrencies. / Cai, Zhao; Liu, Albert Fei; Lim, Eric T. K. et al.
Proceedings of the 39th International Conference on Information Systems (ICIS). Atlanta, GA: Association for Information Systems. AIS Electronic Library (AISeL), 2018. (Proceedings of the International Conference on Information Systems).

Publikation: Bidrag til bog/antologi/rapport › Konferencebidrag i proceedings › Forskning › peer review

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T1 - Unraveling the Effects of Google Search on Volatility of Cryptocurrencies

AU - Cai, Zhao

AU - Liu, Albert Fei

AU - Lim, Eric T. K.

AU - Tan, Chee-Wee

AU - Zheng, Zhiqiang

N1 - Conference code: 39

PY - 2018

Y1 - 2018

N2 - Although cryptocurrencies have garnered enormous public attention in recent times, extensive fluctuations in their prices have deterred prospective investors. Due to the absence of a centralized valuation authority, the credibility of cryptocurrencies as a viable investment vehicle remains elusive. Building on attention theory, this study posits that prospective investors of cryptocurrencies are likely to search online for information before deciding whether to make a commitment. We hence investigate the effects of Google search on the return and risk of 268 cryptocurrencies over 181 trading days. Results indicate that the Google Search Volume Index (SVI) of a given cryptocurrency exerts significant and positive impact on its price and turnover.

AB - Although cryptocurrencies have garnered enormous public attention in recent times, extensive fluctuations in their prices have deterred prospective investors. Due to the absence of a centralized valuation authority, the credibility of cryptocurrencies as a viable investment vehicle remains elusive. Building on attention theory, this study posits that prospective investors of cryptocurrencies are likely to search online for information before deciding whether to make a commitment. We hence investigate the effects of Google search on the return and risk of 268 cryptocurrencies over 181 trading days. Results indicate that the Google Search Volume Index (SVI) of a given cryptocurrency exerts significant and positive impact on its price and turnover.

KW - Cryptocurrency

KW - Attention economy

KW - Google search

KW - Return

KW - Risk

KW - Cryptocurrency

KW - Attention economy

KW - Google search

KW - Return

KW - Risk

M3 - Article in proceedings

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BT - Proceedings of the 39th International Conference on Information Systems (ICIS)

PB - Association for Information Systems. AIS Electronic Library (AISeL)

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