<?xml version="1.1" encoding="utf-8"?>
<article xsi:noNamespaceSchemaLocation="http://jats.nlm.nih.gov/publishing/1.1/xsd/JATS-journalpublishing1-mathml3.xsd" dtd-version="1.1" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"><front><journal-meta><journal-id journal-id-type="publisher-id">IED</journal-id><journal-title-group><journal-title>International Economy and Development</journal-title></journal-title-group><issn>2995-4339</issn><eissn>2995-4355</eissn><publisher><publisher-name>Art and Design</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.61369/IED.2025020019</article-id><article-categories><subj-group subj-group-type="heading"><subject>Article</subject></subj-group></article-categories><title>投资者关注对股价联动的影响</title><url>https://artdesignp.com/journal/IED/3/2/10.61369/IED.2025020019</url><author>姜尚伟</author><pub-date pub-type="publication-year"><year>2025</year></pub-date><volume>3</volume><issue>2</issue><history><date date-type="pub"><published-time>2025-02-20</published-time></date></history><abstract>本文从投资者关注视角研究股价联动的空间规律。利用中介效应检验研究投资者关注、空间距离与股价联动之间的关系。研究发现：（1）股价联动与空间距离存在负向联系，且投资者关注联动是二者之间联系的中介变量；（2）地理空间距离和经济空间距离对联动存在交叉影响。</abstract><keywords>投资者关注,股价联动,空间距离</keywords></article-meta></front><body/><back><ref-list><ref id="B1" content-type="article"><label>1</label><element-citation publication-type="journal"><p>[1]Li M.S., Zhao X. Neighborhood effect on stock price comovement[J]. The North American Journal of Economics and Finance, 2016, 35, 1-22.[2]Jie L., Yongjie Z., Xu F., et al. Which kind of investor causes comovement[J]? Journal of International Financial Markets, Institutions and Money, 2019,61(1):1-15.[3]Hirshleifer D., Teoh S. H. Limited attention, information disclosure, and financial reporting[J]. Journal of Accounting and Economics, 2003, 36(1):337-386.[4]Anderson C., Beracha E. Robustness of the headquarters-city effect on stock returns[J]. Journal of Financial Research, 2008,31(3): 271&amp;ndash;300.[5]Coval J. D., Moskowitz T. J. Home bias at home: Local equity preference in domestic portfolios[J]. Journal of Finance, 1999,54(6): 2045&amp;ndash;2073.[6]French K., Poterba J. M. Investor diversification and international equity markets[J]. American Economic Review, 1991,81(2): 222&amp;ndash;226.[7]Kumar A., Page J. K., Spalt O. G. Investor sentiment and return comovements: Evidence from stock splits and headquarters changes[J]. Review of Finance, 2013,17(3), 921&amp;ndash;953.[8]Yang B. Communication, excess comovement and factor structures[J]. Journal of Business Finance &amp;amp; Accounting, 2013,40(9),1304&amp;ndash;1325.[9]Ertur, C., Musolesi, A. Weak and strong cross-sectional dependence:a panel data analysis of international technology diffusion[J]. Journal of Applied Econometrics, 2017, 32(3), 477-504.[10]Michael S. D., Jared J., Darren T. R., Jacob R. T. The Comovement of Investor Attention[J]. Management Science, 2017,63(9):2847-2867.[11]Fern&amp;aacute;ndez-Avil&amp;eacute;s G., Jose-Mar&amp;iacute;a Montero, Alexei G. O. Spatial modeling of stock market comovement[J]. Finance Research Letters, 2012, 9(4): 202-212.[12]Ahern K.R., Harford J. The importance of industry links in merger waves. Journal of Finance, 2014,69(2):527-576.[13]Baron R. M. and Kenny D. A. The moderator&amp;ndash;mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations[J]. Journal of personality and social psychology, 1986,51(6): 1173-1182.[14]Balconi M., Breschi S., Lissoni F. Networks of inventors and the role of academia: an exploration of Italian patent data[J]. Research Policy , 2004, 33(1), 127-145.[15]Singh J. Collaborative networks as determinants of knowledge diffusion pattern[J]. Management Science, 2005,51(5):756-770.[16]Gorea D, Radev D. The euro area sovereign debt crisis:Can contagion spread from the periphery to the core?[J]. International Review of Economics &amp;amp; Finance, 2014,30(3):78&amp;ndash;100.</p><pub-id pub-id-type="doi"/></element-citation></ref></ref-list></back></article>
