Investor PSY-chology Surrounding 'Gangnam Style'

Y. Han (Andy) Kim

Nanyang Technological University (NTU)

Hosung Jung

Bank of Korea

January 24, 2015

The global success of “Gangnam Style,” by the Korean rapper PSY in 2012, was an exogenous shock to investor enthusiasm about PSY’s father’s semiconductor company, DI Corp., because the family relation was publicized in various countries in the early stage. Using the count of flash mob videos on YouTube from each country and domestic region as the proxy for the enthusiasm of individual investors, we find individual investors became net buyers of the stock when the attention level increased in their neighborhood (countries). Accordingly, the attention drove the stock price up by 800% without information.

Number of Pages in PDF File: 61

Keywords: Gangnam Style, flash mob, Youtube, parody, bubble, investor awareness, individual investors, institutional investors, foreign investors, short sale, home bias, media, market efficiency

JEL Classification: G02, G14, G12, G18

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Date posted: July 12, 2013 ; Last revised: January 24, 2015

Suggested Citation

Kim, Y. Han (Andy) and Jung, Hosung, Investor PSY-chology Surrounding 'Gangnam Style' (January 24, 2015). Available at SSRN: http://ssrn.com/abstract=2292577 or http://dx.doi.org/10.2139/ssrn.2292577

Contact Information

Y. Han (Andy) Kim (Contact Author)
Nanyang Technological University (NTU) ( email )
S3 B2-A28 Nanyang Avenue
Singapore, 639798
65-6790-4639 (Phone)
Hosung Jung
Bank of Korea ( email )
110, 3-Ga, Namdaemunno, Jung-Gu
Seoul 100-794, 100-794
United States
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