Research On The Influence Of Network Public Opinion On The Investment And Financing Behavior Of Blockchain Listed Companies

Blockchain technology was born from the proposal of encrypted digital currency.In recent years,the popularity of the blockchain concept has been high.The technology's decentralization,distributed storage,and non-tampering characteristics can solve the problems of high cost,low efficiency,and insecure data storage that are common in centralized institutions.It is regarded as one of the important technologies that will change the future.At the collective study meeting of the Political Bureau of the Central Committee on October 24,2019,General Secretary Xi Jinping proposed “to accelerate the promotion of blockchain technology and industrial innovation and development.” This news made the popularity of blockchain soar,and the media rushed to report.People have just begun to understand this technology,but they blindly invest in accordance with public opinion,looking for investment targets in the blockchain sector,and all kinds of “blockchain concept”stock performed well after large amount of report.However,the so-called "blockchain" sector is actually a mixed bag,and not all companies in it are really engaged in the development of blockchain technology.The influx of a large amount of funds actually gave the "fake blockchain" companies an opportunity to profit from public opinion.The existence of such companies harmed the interests of investors and discredited the image of "blockchain" technology.This thesis first obtains the news-related data of online news through Ui Path software,then establishes the blockchain public opinion index through the related functions of Python text analysis,and summarizes the relationship between the hot topics of the blockchain in 2019 through the document analysis function of Python.Afterwards,this thesis will select the topics that are easy to be hyped through the connection between the public opinion index data and the topic,and analyze the investment and financing activities of A company based on the time point of the corresponding event,and study the influence of blockchain public opinion changes on the investment and financing behavior of A company.In combination with the relevant behaviors of the comparison company,a summary of the behavioral patterns of “fake blockchain” companies is summarized to provide suggestions for different kinds of parties.This thesis finds that “fake blockchain” companies who do not really research and develop tend to have the characteristics of frequent equity pledge and disposal,weak R&D capabilities,negative correlation between changes in investment and financing behavior and changes in public opinion,frequent but hollow public relations activities.Finally,in order to help standardize the development of the blockchain market,this thesis proposes suggestions from the perspectives of blockchain-related companies,investors,intermediaries,and regulators to guide all parties to pay attention to the impact of public opinion.On one hand,it protects the interests of investors.On the other hand,it guides the flow of funds to companies that truly invest in blockchain technology.