数字技术与经济金融学术午餐会（第19期）

摘要：

It is long been discussed in the literature on what makes star mutual fund managers and whether they are able to earn risk-adjusted return, yet little is known about the determinants of a star individual investor. We explore this question by presenting empirical evidence based on an online social platform with transaction data, Snowball. This paper demonstrates how investors' performance, investment style and demographics distinguish star investors; and provides evidence that star investors do make abnormal returns through information channel. Additionally, this paper finds that star investors have a real impact on their followers, with a significant number of individual investors mimicking their star counterparts using real money in the stock market, and such following decision brings them higher return.

主讲人介绍：

许泳昊，北京大学金融学博士，2021年加入中南财经政法大学金融学院。研究领域包括行为金融、资产定价与家庭金融。研究成果发表在《管理世界》、International Review of Economics and Finance和Economics Letters等国内外期刊中，2022年获批国家自然科学基金青年项目。