Advances in Economics, Management and Political Sciences

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Proceedings of the 7th International Conference on Economic Management and Green Development

Series Vol. 28 , 10 November 2023


Open Access | Article

Studying the Impact of Media Coverage on the Stock Market Using Mediating Effects

Zhang Ziyue * 1
1 Sichuan International Studies University

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 28, 118-126
Published 10 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Zhang Ziyue. Studying the Impact of Media Coverage on the Stock Market Using Mediating Effects. AEMPS (2023) Vol. 28: 118-126. DOI: 10.54254/2754-1169/28/20231308.

Abstract

As a publisher of information on capital market transactions, media coverage has become a hot topic of research for modern scholars. In this paper, stocks with trading data within 2013.1.1-2020.1.1 on the SSE and SZSE are used as research samples, and the number of media reports, investor sentiment, and stock returns are used as core variables, to investigate the transmission relationship between these three things by using a mediating effect model. The relationship between the three variables is reported systematically and directly. This study concludes that investor sentiment plays a partially mediating role in the impact of media attention on the stock market. Investor sentiment as a medium of media information translates perceptions into behavior and thus influences investors' investment decisions. The news gives investors some informational advantage reduced the level of information asymmetry and has the most pronounced impact on investors, media involvement diminishes the role of investor sentiment on stock investments.

Keywords

media attention, investor sentiment, stock reporting rate, information asymmetry

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 7th International Conference on Economic Management and Green Development
ISBN (Print)
978-1-83558-077-6
ISBN (Online)
978-1-83558-078-3
Published Date
10 November 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/28/20231308
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated