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

Table 1

ADF test results.

	ADF	Critical value			value
		1%	5%	10%
SHINDEX-SENINDEX	−6.8038	−3.4626	−2.8756	−2.5743	0.0000
RSH-VSEN	−5.7672	−3.4612	−2.8749	−2.5740	0.0000
GARCHRSH-GARCHVSEN	−7.5798	−3.4609	−2.8749	−2.5740	0.0000

Note: 1%, 5%, and 10% are significance levels.