Table 12 Regression results of media attention when considering GDP growth.

From: The impact of social media on fund net capital flow and performance

Explained variable: Fund net capital flow (flow)

 

(1)

(2)

(3)

 

all

large

small

media

0.0525*** (0.0141)

0.0161*** (0.00582)

0.0728** (0.0365)

GDP

−1.046*** (0.0524)

−0.911*** (0.0187)

−1.179*** (0.0883)

Observations

20,306

10,528

9778

R-squared

807

542

669

Number of funds

0.076

0.518

0.054

Fund FE

YES

YES

YES

Quarter FE

YES

YES

YES

  1. The numbers in parentheses are robust standard errors. ***, ** and * represent significance at the 1%, 5% and 10% levels respectively. Control variables include the ordinary return rate of the fund in the previous period (\({{return}}_{i,t-1}\)), the fund age (\({{lnage}}_{i,t}\)), the net asset value of the fund (\(\mathrm{ln}{{tna}}_{i,t}\)), the net asset value of the fund manager (\({{lnfamsize}}_{i,t}\)), volatility of the fund’s ordinary return rate (\({{Stdret}}_{i,t}\)), total dividend amount of the fund (\({{div}}_{i,t}\)), number of fund dividends (\({{divnum}}_{i,t}\)), market return rate (\({{Rm}}_{t}\)).
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