Does Online Investor Sentiment Affect the Asset Price Movement? Evidence from the Chinese Stock Market

Figure 4

EMD results of the original data. The -axis of the th subfigure (the last subfigure) in each panel stands for (the residuals).

(a) EMD of SHINDEX

(b) EMD of SENINDEX

(c) EMD of RSH

(d) EMD of VSEM

(e) EMD of GARCHRSH

(f) EMD of GARCHVSEM