How Government Information Release Affect Stock Market during Dramatic Public Health Shocks? The Intermediating Role of Public Sentiment
International Journal of Economics and Financial Issues
; 12(3):60-67, 2022.
Article
in English
| ProQuest Central | ID: covidwho-2100976
ABSTRACT
During dramatic public health shocks, the impact of anti-epidemic policies on public sentiment is uncertain, and public sentiment has a significant impact on the stock market. But the relationship between the three is not clear. This paper uses government information release to reflect anti-epidemic policies, uses personal weibo to calculate public sentiment, and analyzes the relationship between Government information release, public sentiment and stock market. Through the Bi-LSTM classification model analysis about 200,000 microblog data during COVID-19, and build panel data regression model. The results show that public sentiment have a significant positive impact on stock returns;Government information release have a significant positive impact on public sentiment;public sentiment play a intermediating role between government information release and stock market;Influenced by the enterprise size and the industry it belongs to, there is heterogeneity in public sentiment's impact.
Full text:
Available
Collection:
Databases of international organizations
Database:
ProQuest Central
Language:
English
Journal:
International Journal of Economics and Financial Issues
Year:
2022
Document Type:
Article
Similar
MEDLINE
...
LILACS
LIS