The Impact of Firm-Generated Visibility on Retail Investor Attention: Evidence from India

DOI: https://doi.org/10.5281/zenodo.21336990

Authors:

Leena Chhabra, Niti Nandini Chatnani

Keywords:

Visibility, Retail Investors, Information, Stock Market, Investor Attention

Abstract:

This paper examines the impact of visibility created by firms on investor attention. Based on the panel data of NSE-listed firms for 10 recent financial years, the study provides timely evidence on how firms attract retail investors in India. The study uses fixed effects regression supported by the Hausman test. It is found that advertisements attract investors’ attention, and the impact of advertisements on attracting investors reduces as firms grow in age. The results of this study are valuable for investors, firms, and financial market regulators.

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