  In this study, we will study investor attention measurement using the Search
Volume Index in the recent market. Since 2009, the popularity of mobile devices
and the spread of the Internet have made the speed of information delivery
faster and the investment information retrieval data for obtaining investment
information has increased dramatically. In these circumstances, investor
attention measurement using search volume data can be measured more accurately
and faster than before mobile device popularization. To confirm this, we will
compare the effect of measuring investor attention using search volume data
before and after mobile device popularization. In addition, it is confirmed
that the measured investor attention is that of retail traders, not
institutional traders or professional traders, and the relationship between
investor attention and short-term price pressure theory. Using SVI data
provided by Google Trends, we will experiment with Russell 3000 stocks and IPO
stocks and compare the results. In addition, the results of investigating the
investor's interest using the search volume data from various angles through
experiments such as the comparison of the results based on the inclusion of the
noise ticker group, the comparison of the limitations of the existing investor
attention measurement method, and the comparison of explanatory variables with
existing IPO related studies. We would like to verify its practicality and
significance.
