How does social media sentiment impact mass media sentiment? A study of news in the financial markets
How does social media sentiment impact mass media sentiment? A study of news in the financial markets
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DOI：
10.1002/asi.24477
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发表时间：
2019-08
影响因子：
3.5
通讯作者：
Jie Ren;Hang Dong;B. Padmanabhan;J. Nickerson
中科院分区：
文献类型：
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作者：
Jie Ren;Hang Dong;B. Padmanabhan;J. Nickerson
财经新闻的大众传媒情绪对投资者的投资决策有显著影响。因此，研究这种情绪是如何产生的是很重要的。在过去的几年里，这是直截了当的，通常由报道金融新闻的记者决定，但现在变得更加复杂。在本文中，我们专注于社会媒体情绪如何影响大众媒体情绪。使用来自新浪微博和新浪财经的数据（约6000万微博和620万新闻文章），我们发现社交媒体确实影响了大众媒体对财经新闻的情绪涌现。社交媒体反应和先前新闻文章之间的情感一致性放大了大众媒体情感的持久性。相比之下，我们发现社交媒体随着时间的推移降低大众媒体情绪持续性的证据有限。研究结果有显着的影响，了解2种类型的媒体，在文献中单独处理，可能会连接。
Mass media sentiment of financial news significantly influences investment decisions of investors. Hence, studying how this sentiment emerges is important. In years past, this was straightforward, often dictated by journalists who cover financial news, but this has become more complex now. In this paper, we focus on how social media sentiment affects mass media sentiment. Using data from Sina Weibo and Sina Finance (around 60 million weibos and 6.2 million news articles), we show that social media does influence mass media sentiment emergence for financial news. The sentiment consistency between social media reaction and prior news articles amplifies the persistence of mass media sentiment over time. By contrast, we found limited evidence of social media reducing the persistence of mass media sentiment over time. The results have significant implications for understanding how 2 types of media, treated separately in the literature, may be connected.