Missing momentum in China: Considering individual investor preference

Shouyu Yao, Yuanyuan Qin, Feiyang Cheng*, Ji(George) Wu, John W. Goodell

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

7 Citations (Scopus)


We explore the missing momentum effect in the Chinese stock market from the perspective of individual investor preference. Creating a comprehensive individual investor preference index to investigate the missing momentum effect, we find that the momentum effect diminishes toward absence in Chinese-market stocks with particularly high-levels of individual investor preference. In contrast, momentum manifests with decreases in individual investor preference. Contributing to the literature, we provide a new explanation of the missing momentum effect.

Original languageEnglish
Article number103110
Pages (from-to)1-7
Number of pages7
JournalFinance Research Letters
Publication statusPublished - Oct 2022


  • Financial markets
  • Individual investors
  • Market anomalies
  • Momentum


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