Study On The Relationship Between Emotional Tendency And Quoted Companies’ Performance Based On Text Mining Technology

In recent years, with the rapid development of China’s securities market, people’s enthusiasm for investment is increasing, and also there is a growing need of accurate and timely information. People can find the information from various types of disclosure of information to help making their own investment decisions. And annual reports are the most important part of the listing annual publication. Information contained in the annual report will also have a crucial impact on investors. How to use information technology to capture the important and valuable information in the text, it is very important for scholars, investors and listing Corporation.This paper using the text mining technology studies the interaction of the implicit information in the annual report and the performance of listed companies. This paper takes the coal enterprise as an example. Firstly, the non-structured annual report text information is transformed into the structured emotion data by Natural Language Processing technology. At the same time, the stock market transaction data of the coal industry and the related financial data of the enterprise are collected and sorted out. This paper will use the event study and regression analysis to analyze the impact of the listing Corporation’s annual report on the stock price, and analyze the relationship between the emotional tendency of the annual report and the future performance of the listing Corporation. Study found that:(1) Annual reports of listed companies released as a major event in the annual, will have an impact on shares, and produced obvious effect in a period of time, but the impact is not sustainable.(2) Emotional tendencies in listed company annual report will in a certain extent have an influence on future performance of the listed companies. The above research shows that the annual report of the listing Corporation does contain relevant information that can affect the stock price, investors will make investment decisions based on relevant information in the annual publication of the annual report.