Sentiment Stocks

Dong, Hua; Gil-Bazo, Javier

doi:10.2139/ssrn.3334382

Cited by 2 publications

(3 citation statements)

References 39 publications

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“…Unlike firm‐level sentiment measures based on Europe's pre‐IPO markets or social media (e.g. Cornelli, Goldreich and Ljungqvist, 2006; Dong and Gil‐Bazo, 2020), our measure of FSIS has been available for most US public firms since 1992.…”

Section: Introductionmentioning

confidence: 99%

“…However, the pre‐IPO market price is not an available measure of FSIS that can be generalized to a panel of US public firms. In the Chinese stock market, Dong and Gil‐Bazo (2020) employ the tone of Weibo post as the measure of FSIS, and Fu et al. (2021) form a FSIS index based on price‐to‐earnings ratio, average turnover rate and buy–sell imbalance.…”

Section: Introductionmentioning

confidence: 99%

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How Does Firm‐Specific Investor Sentiment Affect the Value of Corporate Cash Holdings?

Guo

Yin

Zeng

2022

British J of Management

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We document a positive relation between firm‐specific investor sentiment (FSIS) and the value of cash. We also show that FSIS has a stronger positive effect on the value of cash than the value of other types of assets, suggesting that our finding is not a simple reflection of firm‐level overvaluation. Our finding is robust to alternative measures of change in cash, different cash regimes, FSIS measured by order imbalance, news sentiment and the tone of earnings conference call transcripts and controlling for market‐wide sentiment, institutional monitoring, corporate governance and endogeneity. Cross‐sectional analyses suggest that the positive relation between FSIS and the value of cash is stronger for firms with better future growth opportunities, larger investment, more innovation activities, higher information asymmetry and more liquid stocks. Overall, our paper sheds light on the important role of FSIS in corporate outcomes.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

How Does Firm‐Specific Investor Sentiment Affect the Value of Corporate Cash Holdings?

Guo

Yin

Zeng

2022

British J of Management

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“…(2020) compared the predictive ability of three sentiment indexes using positive and negative social media posts, newspaper news, and Internet media news, and showed that while traditional newspapers have no impact on Chinese stock markets, both social media and Internet news have strong predictive power. Furthermore, the findings of Dong and Gil‐Bazo (2020), who constructed media sentiment measures using more than 58 million social media messages in China, suggest that stock returns are mainly driven by positive sentiment and amateur investors. The impact of social media sentiments on intraday stock returns has been examined by Broadstock and Zhang (2019) using Twitter data, Sun et al.…”

Section: Why Might Sentiment Matter?mentioning

confidence: 99%

“I just like the stock”: The role of Reddit sentiment in the GameStop share rally

Long

Xie

Yarovaya

2022

The Financial Review

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This paper investigates the role played by the social media platform Reddit in the events around the GameStop (GME) share rally in early 2021. In particular, we analyze the impact of discussions on the r/WallStreetBets subreddit on the price dynamics of the American online retailer GameStop.We customize a sentiment analysis dictionary for Reddit platform users based on the Valence Aware Dictionary and Sentiment Reasoner (VADER) sentiment analysis package and perform textual analysis on 10.8 million comments. The analysis of the relationships between Reddit sentiments and 1-, 5-, 10-, and 30-min GameStop returns contribute to the growing body of literature on "meme stocks" and the impact of discussions on investment forums on intraday stock price movements.

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Sentiment Stocks

Cited by 2 publications

References 39 publications

How Does Firm‐Specific Investor Sentiment Affect the Value of Corporate Cash Holdings?

How Does Firm‐Specific Investor Sentiment Affect the Value of Corporate Cash Holdings?

“I just like the stock”: The role of Reddit sentiment in the GameStop share rally

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