Nie, Caiming
Gao, Yang
Ren, Ting
Article History
Received: 11 November 2024
Accepted: 19 August 2025
First Online: 30 August 2025
Competing interests
: The authors declare no competing interests.
: This study did not require ethical approval because it exclusively analyzed publicly available, anonymized secondary data (e.g., fund performance metrics, social media trends, or commercial database records). No human participants, animal subjects, or private or identifiable information were involved in the research.
: For this study, informed consent was not applicable as the data was sourced from public channels (for example, TianTian fund, The official website of Finance.JR.com, Baidu), with no direct involvement of individual participants and no access to any identifiable personal information.