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An Impact Analysis Of Irrational Behavior Of Stock Investors Based On Big Data

Posted on:2018-10-15Degree:MasterType:Thesis
Country:ChinaCandidate:C L YangFull Text:PDF
GTID:2359330515983312Subject:Statistics
Abstract/Summary:PDF Full Text Request
In recent years,Chinese stock market has developed rapidly,a large number of investors into the stock market.By the end of 2016,there was 1180 listed companies in Shanghai stock market.Because the Chinese stock market is still in the initial stage and the knowledge of the investors themselves is insufficient,leading to there are many irrational behavior in the market.So that after the stock market crash at the end of June 2015,there are a large-scale panic investors,the stock market continued to fall.It shows that the irrational behavior of investors has a certain degree of impact on the stock market.However,in the information age,information plays a very important role in financial markets.With the continuous development of China’s economy and the level of information technology,the public has become increasingly unable to leave the Internet,the Internet has gradually become an important channel that have the interests of all sectors of society expression and emotional catharsis.In this age,it is possible to study the influence of investors’ irrational behavior on the stock market.Therefore,this article bsaes on knowledge of behavioral finance theory,to describe investors’s irrational behavior in the stock market by building the investor irrational behavior index.Using the Python code to crawl the text messages published by investors in the Internet.Then use the text mining technology to mining analyze the text data,the text data will be to quantify by the investor irrational behavior index.Then it can further analyze the influence of investors’ irrational behavior on the stock market.This paper study the impact of investors’ irrational behavior on the stock market.The main conclusions are as follows:(1)By the comparison of classification algorithms,it is found that the support vector machine classification model is suitable for the research of this paper.(2)Studying the index of investors irrational behavior index by descriptive statistical analysis,it is found that is in line with the macroeconomic trend of Chinese economic market,it is thought that the investor irrational behavior index is universal and has the feasibility of research and analysis.(3)By analyzing the relationship between investor irrational behavior index and stock market performance,the result show that there is a short-term lag influence between them.(4)In order to further analyze the influence of investor irrational behavior index,this paper adds the investor irrational behavior index into the four-factor model to the model analysis,it is found that investor irrational behavior is a systematic factor that affects the stock yield.
Keywords/Search Tags:Stock market, Text mining, Investor irrational behavior index, Support Vector Machines
PDF Full Text Request
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