Research On Investor Sentiment Index Based On News Media Text Mining And Baidu Index

Today,the Internet has become a major carrier of social media from a simple information technology platform.It is an interactive social network information platform with sharing,exchange and cooperation.It also provides cheap and abundant data sources for investor sentiment evaluation.The Internet has narrowed the gap between the quantity and quality of information held by different investors.On the other hand,the commercial value of media news is becoming increasingly prominent.News reports,which are partly driven by commercial values,inevitably lead the media to make a selective choice on the coverage of news events.In the financial market,some media reports inevitably convey an optimistic or pessimistic view of the market situation and future expectations,thus transferring the limited attention of the public or influencing the public's way of thinking.It has a powerful and complex impact on its investment decisions and investment behavior.Few studies have linked financial media information to investor sentiment,thus studying the impact mechanism of the three factors: news media reporting,investor sentiment and stock market.Investor sentiment provides us with a new perspective on the changes in the stock market.This study is based on social media data,with Sina finance as a financial media information source,followed by news media collection,self Chinese dictionary,word segmentation,text representation,feature mining and sentiment analysis.Based on Baidu index,the investor sentiment index of Shanghai 50 stock index between January 1,2016 and December 31,2016 was constructed which is studied with SSE 50 by empirical research.In this study,the impact of financial news media coverage on investor sentiment is taken as the starting point to analyze the emotional tendency of media reports and construct the relevant investor sentiment index.This research perspective has important reference value to the role of the perspective of media reporting in the stock market operation,and the formulation of the corresponding media supervision system.After a series research of news text mining,constructing the complex investor sentiment index and the empirical research with SSE50,this paper draw a conclusion that the investor sentiment index based on the economic news mining and the Baidu index has a significant correlation with the Shanghai 50 Index.And compared with the existing single investor sentiment index,it has stronger advantages.