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

In: Liss 2021

Author

Listed:
  • Danyu Lan

    (University of Science and Technology Beijing)

  • Sen Wu

    (University of Science and Technology Beijing)

  • Guiying Wei

    (University of Science and Technology Beijing)

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.

Suggested Citation

  • Danyu Lan & Sen Wu & Guiying Wei, 2022. "The Influence of Investor Sentiment on Stock Market Based on Sentiment Analysis," Lecture Notes in Operations Research, in: Xianliang Shi & Gábor Bohács & Yixuan Ma & Daqing Gong & Xiaopu Shang (ed.), Liss 2021, pages 333-344, Springer.
    • Handle: RePEc:spr:lnopch:978-981-16-8656-6_31
    DOI: 10.1007/978-981-16-8656-6_31
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