Research On The Influence Of The Number Of Posts In Stock Bar On Industry Herding

Herding has a considerable influence on the stability of the stock market.It plays an important role in the research field of behavioral finance.With the rapid development of modern information technology,Internet information platforms have become one of the main channels for investors to obtain stock information.Oriental Fortune Securities Bar is a representative of the Internet information platform.Therefore,using the posting data of CSMAR database to study the impact of Internet information exchange platform on herding behavior in securities market is worthwhile.This article mainly studies the influence of the number of industry posts on the industry herding effect.The paper selects the 2008-2019 Eastern Fortune Stock Bar’s posting data and the cross-sectional absolute deviation CSAD data of the herding effect in the CSMAR database to study the impact of the number of industry posts on the industry.In terms of the impact of herding,this paper analyzes the regulatory effect of the number of industry posts on industry herding.The conclusions of this article are mainly as follows:First,the number of posts posted by industry stock bars has a significant impact on the industry herd effect.The herd effect is positively correlated with the number of posts posted by the industry,that is,the more posts posted by the industry,the more significant the herd effect.Second,the influence of emotional factors in the post exchanges of industry stock bars on the industry herd effect is asymmetry.The content of the posts on the stock bar is grouped according to the sentiment tendency and then the group regression is carried out.It is found that the degree of the industry herd effect is also different when the sentiment tendency of the post is different.Regarding the moderating effect,industry posts with neutral or negative emotions have a greater impact on the herd effect than industry posts with positive emotions have on the herd effect.Third,there is industrial herding in the market.In addition,there are differences in the size of industrial herding in each industry.