@article{Herzog2014,
  author    = {Herzog, Bodo},
  title     = {Google's search data and its application in finance},
  journal   = {International journal of economics, finance and management sciences},
  volume    = {2},
  number    = {1},
  issn      = {2326-9553},
  doi       = {10.11648/j.ijefm.20140201.11},
  institution = {ESB Business School},
  pages     = {1 -- 7},
  year      = {2014},
  abstract  = {This paper examines the relationship of asset Price determination via Google data. To capture this relation, I create a model and estimate several time series' regressions. I use weekly data from 2004 to 2010 from 30 international banks. To my knowledge this is the first study which differentiates between Google's search volume and Google's search clicks. I show that asset prices are positively related to the rate of change in Google's search volume, trading volume and the level of Google search clicks. Secondly, I demonstrate that the absolute level of Google's search volume and Google's search clicks behave differently regarding the asset price dynamics. Google's search volume, which measures long-run searches, is negatively related while Google's search clicks have a positive relationship to asset prices. Hence, Google's data offer new insights on both measuring attention and pricing financial assets.},
  language  = {en}
}