{"id":"https://openalex.org/W7225748730","doi":"https://doi.org/10.6084/m9.figshare.34963511","title":"Research on the relationship between online public opinion and investor sentiment: from the perspectives of correlation and spillover effects","display_name":"Research on the relationship between online public opinion and investor sentiment: from the perspectives of correlation and spillover effects","publication_year":2026,"publication_date":"2026-11-10","ids":{"openalex":"https://openalex.org/W7225748730","doi":"https://doi.org/10.6084/m9.figshare.34963511"},"language":"en","primary_location":{"id":"doi:10.6084/m9.figshare.34963511","doi":"https://doi.org/10.6084/m9.figshare.34963511","is_oa":true,"landing_page_url":"https://doi.org/10.6084/m9.figshare.34963511","pdf_url":null,"source":{"id":"https://openalex.org/S4377196282","display_name":"Figshare","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210132348","host_organization_name":"Figshare (United Kingdom)","host_organization_lineage":["https://openalex.org/I4210132348"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"JournalArticle"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.6084/m9.figshare.34963511","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5161407201","display_name":"Zhuwei Li","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Zhuwei Li","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5161381657","display_name":"Xian Wang","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Xian Wang","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5161368033","display_name":"Xuejiao Lu","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Xuejiao Lu","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5161365162","display_name":"Diheng Liu","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Diheng Liu","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":{"value":0.0,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9707000255584717,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9707000255584717,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.011699999682605267,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11326","display_name":"Stock Market Forecasting Methods","score":0.006099999882280827,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[],"concepts":[{"id":"https://openalex.org/C55527203","wikidata":"https://www.wikidata.org/wiki/Q334194","display_name":"Spillover effect","level":2,"score":0.8012999892234802},{"id":"https://openalex.org/C2780801425","wikidata":"https://www.wikidata.org/wiki/Q5164392","display_name":"Construct (python library)","level":2,"score":0.6611999869346619},{"id":"https://openalex.org/C134698397","wikidata":"https://www.wikidata.org/wiki/Q17946","display_name":"Public opinion","level":3,"score":0.6482999920845032},{"id":"https://openalex.org/C117220453","wikidata":"https://www.wikidata.org/wiki/Q5172842","display_name":"Correlation","level":2,"score":0.5633000135421753},{"id":"https://openalex.org/C2777382242","wikidata":"https://www.wikidata.org/wiki/Q6017816","display_name":"Index (typography)","level":2,"score":0.5454999804496765},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.51419997215271},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4350999891757965},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.42980000376701355},{"id":"https://openalex.org/C66402592","wikidata":"https://www.wikidata.org/wiki/Q2271421","display_name":"Sentiment analysis","level":2,"score":0.42410001158714294},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4187999963760376},{"id":"https://openalex.org/C31266012","wikidata":"https://www.wikidata.org/wiki/Q6554340","display_name":"Linkage (software)","level":3,"score":0.41440001130104065},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4115000069141388},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.37450000643730164},{"id":"https://openalex.org/C2986115478","wikidata":"https://www.wikidata.org/wiki/Q186290","display_name":"Positive correlation","level":2,"score":0.3587000072002411},{"id":"https://openalex.org/C2988405389","wikidata":"https://www.wikidata.org/wiki/Q6987247","display_name":"Negative correlation","level":2,"score":0.3395000100135803},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.3328999876976013},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.329800009727478},{"id":"https://openalex.org/C169345407","wikidata":"https://www.wikidata.org/wiki/Q8216221","display_name":"Uncorrelated","level":2,"score":0.31540000438690186},{"id":"https://openalex.org/C2993311118","wikidata":"https://www.wikidata.org/wiki/Q51379","display_name":"Positive relationship","level":2,"score":0.29649999737739563},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.29490000009536743},{"id":"https://openalex.org/C18762648","wikidata":"https://www.wikidata.org/wiki/Q42213","display_name":"Work (physics)","level":2,"score":0.2865999937057495},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.2833000123500824},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.28290000557899475},{"id":"https://openalex.org/C39549134","wikidata":"https://www.wikidata.org/wiki/Q133080","display_name":"Public relations","level":1,"score":0.28040000796318054},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.2705000042915344},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.2648000121116638},{"id":"https://openalex.org/C100001284","wikidata":"https://www.wikidata.org/wiki/Q2248246","display_name":"Public economics","level":1,"score":0.2565000057220459},{"id":"https://openalex.org/C2778165684","wikidata":"https://www.wikidata.org/wiki/Q6576792","display_name":"Online community","level":2,"score":0.2522999942302704}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.6084/m9.figshare.34963511","doi":"https://doi.org/10.6084/m9.figshare.34963511","is_oa":true,"landing_page_url":"https://doi.org/10.6084/m9.figshare.34963511","pdf_url":null,"source":{"id":"https://openalex.org/S4377196282","display_name":"Figshare","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210132348","host_organization_name":"Figshare (United Kingdom)","host_organization_lineage":["https://openalex.org/I4210132348"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"JournalArticle"},{"id":"doi:10.6084/m9.figshare.34963511.v1","doi":"https://doi.org/10.6084/m9.figshare.34963511.v1","is_oa":true,"landing_page_url":"https://doi.org/10.6084/m9.figshare.34963511.v1","pdf_url":null,"source":{"id":"https://openalex.org/S4377196282","display_name":"Figshare","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210132348","host_organization_name":"Figshare (United Kingdom)","host_organization_lineage":["https://openalex.org/I4210132348"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"JournalArticle"}],"best_oa_location":{"id":"doi:10.6084/m9.figshare.34963511","doi":"https://doi.org/10.6084/m9.figshare.34963511","is_oa":true,"landing_page_url":"https://doi.org/10.6084/m9.figshare.34963511","pdf_url":null,"source":{"id":"https://openalex.org/S4377196282","display_name":"Figshare","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210132348","host_organization_name":"Figshare (United Kingdom)","host_organization_lineage":["https://openalex.org/I4210132348"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"JournalArticle"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":[],"abstract_inverted_index":{"This":[0,109],"study":[1,83,110],"investigates":[2],"the":[3,68,82,92,100],"relationship":[4],"between":[5,103],"online":[6,21,114,199],"public":[7,22,104,115],"opinion":[8,23,105,116],"and":[9,15,25,35,41,43,45,54,78,106,126,138,143,148,156,169,184,201,212,214,217,232],"investor":[10,27,129,160,202,222],"sentiment.":[11,108],"Utilizing":[12],"textual":[13],"analysis":[14,183],"professional":[16,128],"indicators,":[17],"we":[18],"construct":[19],"an":[20,26],"index":[24,117,131],"sentiment":[28,61,130,161,191],"index.":[29],"We":[30],"then":[31,134],"delineate":[32],"their":[33,136],"correlation":[34,53,137,155],"spillover":[36,55,139],"effects":[37,56,90,140],"under":[38,141],"both":[39],"\u201cstatic":[40],"dynamic\u201d":[42],"\u201cnormal":[44],"extreme\u201d":[46],"conditions.":[47],"Findings":[48],"reveal":[49],"a":[50,85,112,122,127,186],"consistently":[51],"positive":[52,154],"across":[57,209],"all":[58],"scenarios.":[59],"Investor":[60],"frequently":[62],"exhibits":[63],"stronger":[64,164],"outward":[65],"spillovers":[66],"in":[67,88,166,235],"estimated":[69],"system.":[70],"Furthermore,":[71],"these":[72,89],"interactions":[73],"exhibit":[74],"heterogeneity":[75],"during":[76,91,172],"bull":[77,167],"bear":[79],"markets.":[80,238],"Notably,":[81],"identifies":[84],"structural":[86,170],"breakpoint":[87],"COVID-19":[93],"pandemic.":[94],"These":[95],"results":[96],"provide":[97],"evidence":[98,194],"of":[99,190,198],"dynamic":[101],"linkage":[102],"market":[107,210],"constructs":[111],"text-based":[113],"from":[118,224],"stock-forum":[119],"posts":[120],"using":[121,146],"fine-tuned":[123],"BERT":[124],"model":[125],"via":[132],"PLS,":[133],"examines":[135],"static/dynamic":[142],"normal/extreme":[144],"conditions":[145],"TVP-VAR-DY":[147],"Copula-CoVaR":[149],"models.":[150],"It":[151],"finds":[152],"persistent":[153],"bidirectional":[157],"spillovers,":[158],"with":[159],"generally":[162],"dominant,":[163],"linkages":[165],"markets,":[168],"breaks":[171],"COVID-19.":[173],"The":[174],"work":[175],"matters":[176],"because":[177],"it":[178],"moves":[179],"beyond":[180],"one-way":[181],"public-opinion-to-sentiment":[182],"provides":[185],"time-varying,":[187],"tail-sensitive":[188],"account":[189],"linkages.":[192],"Its":[193],"supports":[195],"differentiated":[196],"monitoring":[197],"discourse":[200],"sentiment,":[203,227],"helps":[204],"regulators":[205],"adjust":[206],"surveillance":[207],"intensity":[208],"phases":[211],"crises,":[213],"encourages":[215],"researchers":[216],"investors":[218],"to":[219],"distinguish":[220],"genuine":[221],"views":[223],"broader":[225],"netizen":[226],"thereby":[228],"improving":[229],"sentiment-risk":[230],"assessment":[231],"information":[233],"governance":[234],"digital":[236],"financial":[237]},"counts_by_year":[],"updated_date":"2026-11-11T12:16:26.678958","created_date":"2026-11-11T00:00:00"}
