ABSTRACT
This paper has approached the investment method by alpha value as the excess return to compensate for risks other than the market risk with the data sample of filtered stocks from three major exchanges of the Vietnam stock market HOSE, HNX, and UPCOM from January 2016 to December 2020. Then, we compare the performance of the portfolio through 2021, the year Vietnam fell into the 4th wave of Covid and was the hardest hit. The results of the paper have shown that the portfolio selected by the alpha method has eliminated the beta market risk of the portfolio and has the actual portfolio return higher than the general rate of return of the stock market index, thereby reinforcing and proving the effectiveness of the alpha investment model. © 2022 The authors and IOS Press.
ABSTRACT
Digital social networking platforms become the mechanism for fans and celebrities to have digital communication and interation. Marketers and celebrities may take advantage of this opportunity to promote merchandise to consumers and fans by leveraging the wishful identification and parasocial relationship between digital celebrities and their followers. This study investigates the effect of wishful identification on parasocial relationships, which then enhance behavioral loyalty and purchase intentions sequentially. An online survey was administered to 300 Vietnamese social network sites (SNS) users, who were following digital celebrities. The statistical results indicate that higher levels of wishful identification positively associated with higher levels of parasocial relationship, which then trigger higher levels of behavioral loyalty and purchase intention sequentially. This study therefore sheds light on fans’ behavioral loyalty with digital celebrities through their purchase identification during Covid-19 time. © 2021 CEUR-WS. All rights reserved.