Fear and hope in financial social networks: Evidence from COVID-19

Mohamed Al Guindy

Finance Research Letters, 2022, vol. 46, issue PA

Abstract: This paper examines the diffusion of COVID-19 news on social media using a large sample of approximately 45 million tweets. Using textual analysis, I identify tweets containing COVID-19 news, and construct an index representing the intensity of Twitter discussions. Moreover, I use retweets and favorites as additional measures of investor attention to COVID-19. The results show that the intensity of Twitter discussions about COVID-19 (and about the treatment program) correspond to market returns. This suggests a role for financial social networks in transmitting information related to crises, such as COVID-19, and the resolution of crises.

Keywords: Networks; Social media; Big Data; COVID-19 (search for similar items in EconPapers)
JEL-codes: G12 G14 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:46:y:2022:i:pa:s1544612321003135

DOI: 10.1016/j.frl.2021.102271

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