The Research On The Sociophysical Mechanism Of The Influence Of Stock Market Information On Investors' Emotion

After more than 20 years of development,China's stock investment market has made great progress.However,due to its late start,it has been exposed some problems in its development,such as improper investment motivation of investors and irregular market operations and so on.These problems expose the irrational characteristics of the market,and thus make the stock price deviate from its actual value for a long time.All of these facts challenge the hypothesis of rational person in the efficient market hypothesis of traditional finance,and scholars verify that investors are irrational through empirical research,besides,their subjective emotions will make capital pricing deviate from its intrinsic value for a long time.Behavioral finance combines the knowledge of psychology,behavior and sociology,trying to find the rules of investor sentiment,in order to realize the quantitative research of investor sentiment.However,looking at the relevant existing research,we can find that these are all from the investor sentiment itself,but the investor sentiment is an extremely subjective one,which will change because of individual changes.Therefore,how to abandon individual subjective factors and find the objective law of investor sentiment from the perspective of the third party has become a difficult problem.For this reason,this paper will try to use the ability of physics to summarize objective natural laws to explore the objective laws of investor' sentiment from the brand-new perspective of sociophysics,so as to realize the guidance of investors' rational investment behavior.Although a large number of studies have proved that investor sentiment will influence capital pricing and then affect the securities market,but how does the information of the securities market affect investor sentiment,how does the investor sentiment generate aggregation,and how does the investor sentiment suffer damage? These problems are put in front of researchers.Especially with the continuous development and maturity of Internet technology,a large number of Internet media platforms and social platforms are emerging,and the information sources obtained by investors are more open and miscellaneous.The amount of data brought by this convenient way of information acquisition also exceeds the investors' search and processing ability.In view of this situation,collaborative filtering technology meets the needs of investors,but It also makes it easier for the market to form trend consistent sentiment.Therefore,in view of the above problems,this paper explores the logic and mechanism of the impact of securities market information on investor sentiment from the perspective of sociophysics.Therefore,the research work of this paper mainly includes the following aspects:1.Crawling Internet information data and screening.This paper crawls the required information,announcements and related indicators,then selects and processes the obtained information combined with availability,information quality and purpose.2.To realize the explanation of investors' sentiment in sociophysics.Sociophysics is a subject that explains social problems by using the thought logic of physics and other natural sciences,and investor sentiment is also a social problem.Therefore,analogy between investor sentiment and physics related theories,and explain the rationality of the application of social physics theory,then use physics energy model and material damage model to construct investors sentiment energy and sentiment destruction models.3.The quantification of information in the stock market and the quantification of investors' sentiment energy.The mined text information is converted into quantified data through statistical analysis principles and methods,and the investor sentiment index formed by the number of participants and commenters provided by the website is used to construct an investor sentiment energy index.The work of these three parts forms a systematic analysis and research process,which basically achieves the research goals of this article,and proposes corresponding guidance suggestions to investors,securities dealers,and regulators in order to improve the rational level of the entire securities market.