With the rapid development of agricultural informalization in the world, the demand of agricultural information has been a focus in the international agriculture and information fields. Based on the investigation, thi...With the rapid development of agricultural informalization in the world, the demand of agricultural information has been a focus in the international agriculture and information fields. Based on the investigation, this paper presented the four characteristics of the demand of agricultural information in China, includingregionality, seasonality, great potential demand and variation in kind and level. The factors infuencing the demand of agricultural information were analyzed by the Optimized Less Square （OLS） method. The result shows that, of all factors influcing agricultural information demand, the most important one is economy, the second is facility of information pass, and knowledge and education of user, credit of agricultural information service system and production situation follow. Taking Jilin Province as an example, this article also elaborated the agricultural information demand status, and deduced the regression model of agricultural information demand and verified it by the survey in rural Jilin.展开更多
Using internet search data,we examine how geographic proximity shapes individual investors’information acquisition behavior.Focusing on the Chinese stock market,we document a pronounced local bias in information dema...Using internet search data,we examine how geographic proximity shapes individual investors’information acquisition behavior.Focusing on the Chinese stock market,we document a pronounced local bias in information demand:individual investors search more intensively for stocks of firms headquartered in their own province than for nonlocal firms.Consistent with a local information advantage,we show that local investors receive more private information about nearby firms than non-local investors,giving rise to local bias in investor information demand.We then study the asset-pricing implications of this bias by examining the cross-sectional relation between abnormal local bias in information demand and expected returns.Stocks with high abnormal local bias earn significantly higher future returns than those with low abnormal local bias,even after controlling for well-known risk factors.This return predictability is stronger among stocks subject to greater information frictions.Finally,we show that abnormal local bias in information demand primarily captures the arrival of non-fundamental news,as its return predictability reverses over longer horizons.Overall,our findings highlight the role of geography in shaping investor information demand and its implications for asset prices.展开更多
Based on an investigation of the information demand of town and township enterprises,this paper compares the present investigation data with the previous ones,analyzes the changes and the development trend of their in...Based on an investigation of the information demand of town and township enterprises,this paper compares the present investigation data with the previous ones,analyzes the changes and the development trend of their information demand,and puts forward some opinions and suggestions about how information organizations should provide information service for them according to their characteristics.展开更多
文摘With the rapid development of agricultural informalization in the world, the demand of agricultural information has been a focus in the international agriculture and information fields. Based on the investigation, this paper presented the four characteristics of the demand of agricultural information in China, includingregionality, seasonality, great potential demand and variation in kind and level. The factors infuencing the demand of agricultural information were analyzed by the Optimized Less Square （OLS） method. The result shows that, of all factors influcing agricultural information demand, the most important one is economy, the second is facility of information pass, and knowledge and education of user, credit of agricultural information service system and production situation follow. Taking Jilin Province as an example, this article also elaborated the agricultural information demand status, and deduced the regression model of agricultural information demand and verified it by the survey in rural Jilin.
基金supported by the National Natural Science Foundation of China(72401222,72171125)the Postdoctoral Fellowship Program of CPSF(GZB20230549)+1 种基金the China Postdoctoral Science Foundation under Grant Number 2024M762452the China Postdoctoral Science Foundation under Grant Number 2025T181003.
文摘Using internet search data,we examine how geographic proximity shapes individual investors’information acquisition behavior.Focusing on the Chinese stock market,we document a pronounced local bias in information demand:individual investors search more intensively for stocks of firms headquartered in their own province than for nonlocal firms.Consistent with a local information advantage,we show that local investors receive more private information about nearby firms than non-local investors,giving rise to local bias in investor information demand.We then study the asset-pricing implications of this bias by examining the cross-sectional relation between abnormal local bias in information demand and expected returns.Stocks with high abnormal local bias earn significantly higher future returns than those with low abnormal local bias,even after controlling for well-known risk factors.This return predictability is stronger among stocks subject to greater information frictions.Finally,we show that abnormal local bias in information demand primarily captures the arrival of non-fundamental news,as its return predictability reverses over longer horizons.Overall,our findings highlight the role of geography in shaping investor information demand and its implications for asset prices.
文摘Based on an investigation of the information demand of town and township enterprises,this paper compares the present investigation data with the previous ones,analyzes the changes and the development trend of their information demand,and puts forward some opinions and suggestions about how information organizations should provide information service for them according to their characteristics.
