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E-Commerce Letters 2024
基于社交媒体信息交互对股价联动的影响研究
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Abstract:
近年来，随着计算机和互联网通信技术的快速发展，股吧等互联网平台开始成为投资者获取信息的重要媒介之一。社交媒体上的信息交互是否会影响股价联动？是如何影响的？本文以2019~2020年主板、中小板、创业板这三个板块的229只股票为样本，采用回归分析以及复杂网络分析的方法，实证检验了社交媒体信息交互对股价联动的影响。研究发现，2019年各个板块股吧内信息交互越强，股价联动效应越弱。2020年由于风险存在仅主板的信息交互与股价联动有关。因此企业应加强股吧内信息交互的监管，减少虚假信息和恶意信息的传播，维护企业的声誉与形象，以降低其对股价联动的影响。
In recent years, with the rapid development of computer and internet communication technology, internet platforms such as stock bar have become one of the important media for investors to obtain information. Does the interaction of information on social media affect stock price linkage? How is it affected? This paper takes 229 stocks from the main board, small and medium-sized board and GEM board in 2019~2020 as samples, adopts regression analysis and complex network analysis methods, and empirically tests the influence of social media information interaction on stock price linkage. The study found that in 2019, the stronger the information interaction within the stock bar of each sector, the weaker the linkage effect of stock prices. In 2020, due to the existence of risks, only the information interaction of the main board is related to the linkage of stock prices. Therefore, enterprises should strengthen the supervision of information interaction in the stock exchange, reduce the spread of false information and malicious information, and maintain the reputation and image of enterprises to reduce its impact on the linkage of stock prices.
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