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Research On The Influence Of Network Public Opinion On Stock Price

Posted on:2018-11-09Degree:MasterType:Thesis
Country:ChinaCandidate:M P YouFull Text:PDF
GTID:2359330542488896Subject:Finance
Abstract/Summary:PDF Full Text Request
Network media contains a lot of information,and information is an important basis for investors to make investment decisions.With the increasing number of investors in China's securities market,individual investors who are at the disadvantage of information tend to expect to reduce the search cost of information by searching for valuable stock-related information in massive network information and think that it can make reliable Investment decisions.But investors get the information of the network,its authenticity is often unreliable,investors are more likely to pay attention to those with strong emotional color of false information,once the information staggered,the truth of the investors is likely to.It is confused by the illusion.and the network as a medium of social interaction,investors can invest in the psychological interaction in the investor's investment sentiment on the network in the case of mutual influence,the individual's emotions are easy to get infected,so that A large number of investors to take concerted action,the occurrence of "herding effect",leading to huge fluctuations in asset prices,and even the healthy development of China's real economy.In this context,the study of the impact of network information on the stock market price,the stock market supervision and investment institutions are of great practical value.Network information on the impact of stock prices,mainly through the network information affect investors,investment behavior to achieve the impact of stock prices.The impact of network information on investors can be obtained by investors' responses to network information-the views of investors on the web platform.Through the network platform on the views of investors in the data conversion,the text class data into numerical data,to achieve the impact of network information on the impact of investors.And how much of this effect needs to be compared to quantify,technical analysis as a theory of stock investment,noise theory,positive feedback model and herding effect has proved the effectiveness of technical analysis.A large number of scholars related research also shows that technical analysis for China's capital market is effective.Therefore,this article through the introduction of network investment psychological analysis and the introduction of network investment psychological analysis of the technical analysis of the impact of investor behavior on the quantitative impact of stock prices.The structure of this paper is:The first part is the introduction,expatiates the background and significance of the research,and introduces the domestic and foreign research of the research frame,research method and media information influence and the innovation and deficiency of this paper.The second part is the theoretical basis.Firstly,the rationality and feasibility of the technical analysis method in the stock price analysis,the relevant indexes of the technical analysis and the basis of the principal component analysis of the relevant indicators are expounded.Secondly,Meaning,the process of text mining and the introduction of the relevant tools for each step;Finally,the theoretical analysis part of the network information on the stock market price impact of the mechanism and the possible results.The third part is the variable design and model construction part.For the variable design is mainly the selection of technical indicators and preliminary processing,the extraction of emotional indicators and design.The model part is mainly about the SVM model.The fourth part is the empirical analysis,which is divided into descriptive statistics and model analysis.Descriptive statistics summarize the network information from the statistical point of view.The model analysis explores the arguments of this paper,whether the impact of network information on the stock market,whether the technical analysis is still valid,and whether the technical analysis of the network information can help the stock market price analysis.The last part is mainly to summarize the results of the previous empirical analysis,and accordingly put forward the relevant recommendations.Mainly including the recommendations of the relevant agencies and policy recommendations.The conclusions of this paper include:technical analysis is effective for analyzing the stock market trend;investor sentiment is related to the stock price;investor sentiment can respond quickly to the stock price;investor sentiment indicator can enhance the technical analysis for the stock price trend analysis Effect.
Keywords/Search Tags:network public opinion, Investment behavior, stock price, SVM model
PDF Full Text Request
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