The Influence of Investor Sentiment on Stock Market Based on Sentiment Analysis

Danyu Lan (), Sen Wu () and Guiying Wei ()
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Danyu Lan: University of Science and Technology Beijing
Sen Wu: University of Science and Technology Beijing
Guiying Wei: University of Science and Technology Beijing

A chapter in LISS 2021, 2022, pp 333-344 from Springer

Abstract: Abstract Online communities have become an essential tool for sharing information in finance. Many studies have highlighted that investor sentiment from social media may affect stock price volatility. Due to the lack of financial words and phrases, it’s difficult to identify investor sentiment using sentiment analysis based on the general sentiment dictionary. To address this challenge, in this paper, we choose the point mutual information to add financial words and phrases to the sentiment dictionary for text sentiment analysis. We use the extended sentiment dictionary to analyze the sentiment of the Eastmoney forum comments. In addition, we forecasted the stock price using Support Vector Machine and Long Short-Term Memory model. In the experiments, we demonstrate that our method can effectively mine the stock comment text’s sentiment value and improve the accuracy of the stock price forecasting model.

Keywords: Investor sentiment; Sentiment dictionary; Machine learning; Stock price forecasting (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-981-16-8656-6_31

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