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Listening to the buzz: social media sentiment and retail depositors' trust

Matteo Accornero () and Mirko Moscatelli ()
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Matteo Accornero: Bank of Italy
Mirko Moscatelli: Bank of Italy

No 1165, Temi di discussione (Economic working papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: We investigate the relationship between the rumours on Twitter regarding banks and deposits growth. The sentiment expressed in tweets is analysed and employed for the nowcasting of retail deposits. We show that a Twitter-based indicator of sentiment improves the predictions of a standard benchmark model of depositor discipline based on financial data. We further improve the power of the model introducing a Twitter-based indicator of perceived interconnection, that takes into account spillover effects across banks.

Keywords: bank distress; twitter analytics; sentiment analysis (search for similar items in EconPapers)
JEL-codes: G21 G28 E58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ban and nep-mac
Date: 2018-02
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:wptemi:td_1165_18

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