In order to analyze how the sensitivity of the individual investor group changes according to the market institutional measures, this study uses the social media data on the specific stocks of Korea, China, and US stock markets to compare the emotiona ...
In order to analyze how the sensitivity of the individual investor group changes according to the market institutional measures, this study uses the social media data on the specific stocks of Korea, China, and US stock markets to compare the emotional changes of individual investor groups The second step is to propose the following strategies and research methods.
In the first stage, the investor group type and attitude according to the stock market system measures are divided into periods and the three processes are performed to compare with the stock price trends.
First, a survey is conducted on policies and institutions for Korea, China, and US stock markets with different maturity levels. Second, based on the actual listing system of domestic listing qualification implemented in 2009, we will examine the stocks traded in the normal stock market without being delisted through the actual examination of listed stocks in Korea, US, and China stock market from 2009 to 2014 Select the item as the sample target. In addition, we select social media by countries that can collect text messages of the sample, define data collection periods for each event, and collect text message data. Third, we classify investment group types to analyze the attitude change of individual investor group, and perform analysis by type using text mining technique for each sample. Text clustering is performed to classify investment group types. The main keywords that form text clusters in each sample classify investor types (eg, investors, activists, spammers, speculators). Analysis of individual investor attitudes by country and sector by topic analysis.
In the second stage, we analyze the mechanism of emotional change that is reflected in the subjective decision of the investor group and compare the differences among countries with different cultural characteristics. To do this, the research is carried out in the following four processes.
First, the definition and scope of emotions are established by examining the emotional dictionaries by country and examining related studies. We examine studies related to US and Chinese research and overseas emotional analysis for emotional analysis suitable for domestic stock market. Second, build a data set for emotional analysis. (Eg nouns, adjectives, verbs) to be used in emotional analysis are extracted from the text message data of the target samples selected in the first step. Based on the extracted parts of speech, similar words are investigated and emotional expressions suitable for the purpose of research are established. Third, establish a dynamic emotional mechanism for each investor group type. In order to dynamically analyze the emotional changes of the investor group, we compare the emotional words extracted from the "stock market emotional cycle" proposed by Denver Investment (1998) and the emotional words extracted from the sample subjects, do. We analyze the present emotional state of the investor group and derive a dynamic emotional process using process mining to establish a mechanism for how a certain emotion is formed and changed. Fourth, country-specific irrational investment decision-making causes and comparative analyzes are conducted. Based on the emotional formation mechanism constructed in the previous step, the causes of irrational investment decisions are compared and identified in each country.
The results of the proposed study will provide a foundation knowledge for presenting appropriate policies through differentiated approaches and insights into the forecasting and management of stock markets in three countries.