{"id":"https://openalex.org/W4408945339","doi":"https://doi.org/10.3390/e27040345","title":"Too Sensitive to Fail: The Impact of Sentiment Connectedness on Stock Price Crash Risk","display_name":"Too Sensitive to Fail: The Impact of Sentiment Connectedness on Stock Price Crash Risk","publication_year":2025,"publication_date":"2025-03-27","ids":{"openalex":"https://openalex.org/W4408945339","doi":"https://doi.org/10.3390/e27040345","pmid":"https://pubmed.ncbi.nlm.nih.gov/40282580"},"language":"en","primary_location":{"id":"doi:10.3390/e27040345","is_oa":true,"landing_page_url":"https://doi.org/10.3390/e27040345","pdf_url":"https://www.mdpi.com/1099-4300/27/4/345/pdf?version=1743062045","source":{"id":"https://openalex.org/S195231649","display_name":"Entropy","issn_l":"1099-4300","issn":["1099-4300"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Entropy","raw_type":"journal-article"},"type":"article","indexed_in":["crossref","doaj","pubmed"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.mdpi.com/1099-4300/27/4/345/pdf?version=1743062045","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5060815634","display_name":"Jie Cao","orcid":"https://orcid.org/0000-0002-9942-3243"},"institutions":[{"id":"https://openalex.org/I56934997","display_name":"Changsha University of Science and Technology","ror":"https://ror.org/03yph8055","country_code":"CN","type":"education","lineage":["https://openalex.org/I56934997"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Jie Cao","raw_affiliation_strings":["School of Economics and Management, Changsha University of Science and Technology, Changsha 410076, China"],"affiliations":[{"raw_affiliation_string":"School of Economics and Management, Changsha University of Science and Technology, Changsha 410076, China","institution_ids":["https://openalex.org/I56934997"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5084434060","display_name":"Guoqing He","orcid":null},"institutions":[{"id":"https://openalex.org/I56934997","display_name":"Changsha University of Science and Technology","ror":"https://ror.org/03yph8055","country_code":"CN","type":"education","lineage":["https://openalex.org/I56934997"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Guoqing He","raw_affiliation_strings":["School of Mathematics and Statistics, Changsha University of Science and Technology, Changsha 410076, China"],"affiliations":[{"raw_affiliation_string":"School of Mathematics and Statistics, Changsha University of Science and Technology, Changsha 410076, China","institution_ids":["https://openalex.org/I56934997"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5067411848","display_name":"Ying Jiao","orcid":"https://orcid.org/0000-0003-1673-9582"},"institutions":[{"id":"https://openalex.org/I56934997","display_name":"Changsha University of Science and Technology","ror":"https://ror.org/03yph8055","country_code":"CN","type":"education","lineage":["https://openalex.org/I56934997"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Yaping Jiao","raw_affiliation_strings":["School of Mathematics and Statistics, Changsha University of Science and Technology, Changsha 410076, China"],"affiliations":[{"raw_affiliation_string":"School of Mathematics and Statistics, Changsha University of Science and Technology, Changsha 410076, China","institution_ids":["https://openalex.org/I56934997"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5060815634"],"corresponding_institution_ids":["https://openalex.org/I56934997"],"apc_list":{"value":2000,"currency":"CHF","value_usd":2165},"apc_paid":{"value":2000,"currency":"CHF","value_usd":2165},"fwci":6.9052,"has_fulltext":false,"cited_by_count":3,"citation_normalized_percentile":{"value":0.96023927,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":96,"max":97},"biblio":{"volume":"27","issue":"4","first_page":"345","last_page":"345"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9998000264167786,"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":0.9998000264167786,"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/T11059","display_name":"Market Dynamics and Volatility","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"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/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.9923999905586243,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/social-connectedness","display_name":"Social connectedness","score":0.862224280834198},{"id":"https://openalex.org/keywords/spillover-effect","display_name":"Spillover effect","score":0.5617684721946716},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.5571221113204956},{"id":"https://openalex.org/keywords/crash","display_name":"Crash","score":0.54509437084198},{"id":"https://openalex.org/keywords/stock-price","display_name":"Stock price","score":0.5187571048736572},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"Corporate governance","score":0.47566813230514526},{"id":"https://openalex.org/keywords/stock","display_name":"Stock (firearms)","score":0.4557381272315979},{"id":"https://openalex.org/keywords/sentiment-analysis","display_name":"Sentiment analysis","score":0.44363150000572205},{"id":"https://openalex.org/keywords/monetary-economics","display_name":"Monetary economics","score":0.39386463165283203},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.36941438913345337},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.3387012481689453},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.1871047019958496},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.15926185250282288},{"id":"https://openalex.org/keywords/psychology","display_name":"Psychology","score":0.10230085253715515},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.08342602849006653}],"concepts":[{"id":"https://openalex.org/C201943243","wikidata":"https://www.wikidata.org/wiki/Q7551008","display_name":"Social connectedness","level":2,"score":0.862224280834198},{"id":"https://openalex.org/C55527203","wikidata":"https://www.wikidata.org/wiki/Q334194","display_name":"Spillover effect","level":2,"score":0.5617684721946716},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5571221113204956},{"id":"https://openalex.org/C183469790","wikidata":"https://www.wikidata.org/wiki/Q333501","display_name":"Crash","level":2,"score":0.54509437084198},{"id":"https://openalex.org/C2988984586","wikidata":"https://www.wikidata.org/wiki/Q1020013","display_name":"Stock price","level":3,"score":0.5187571048736572},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.47566813230514526},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.4557381272315979},{"id":"https://openalex.org/C66402592","wikidata":"https://www.wikidata.org/wiki/Q2271421","display_name":"Sentiment analysis","level":2,"score":0.44363150000572205},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.39386463165283203},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.36941438913345337},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3387012481689453},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.1871047019958496},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.15926185250282288},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.10230085253715515},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.08342602849006653},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0},{"id":"https://openalex.org/C542102704","wikidata":"https://www.wikidata.org/wiki/Q183257","display_name":"Psychotherapist","level":1,"score":0.0},{"id":"https://openalex.org/C143724316","wikidata":"https://www.wikidata.org/wiki/Q312468","display_name":"Series (stratigraphy)","level":2,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.3390/e27040345","is_oa":true,"landing_page_url":"https://doi.org/10.3390/e27040345","pdf_url":"https://www.mdpi.com/1099-4300/27/4/345/pdf?version=1743062045","source":{"id":"https://openalex.org/S195231649","display_name":"Entropy","issn_l":"1099-4300","issn":["1099-4300"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Entropy","raw_type":"journal-article"},{"id":"pmid:40282580","is_oa":false,"landing_page_url":"https://pubmed.ncbi.nlm.nih.gov/40282580","pdf_url":null,"source":{"id":"https://openalex.org/S4306525036","display_name":"PubMed","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I1299303238","host_organization_name":"National Institutes of Health","host_organization_lineage":["https://openalex.org/I1299303238"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Entropy (Basel, Switzerland)","raw_type":null},{"id":"pmh:oai:doaj.org/article:c5674647f9d848d4953147ed1f3ef600","is_oa":true,"landing_page_url":"https://doaj.org/article/c5674647f9d848d4953147ed1f3ef600","pdf_url":null,"source":{"id":"https://openalex.org/S112646816","display_name":"SHILAP Revista de lepidopterolog\u00eda","issn_l":"0300-5267","issn":["0300-5267","2340-4078"],"is_oa":true,"is_in_doaj":true,"is_core":false,"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Entropy, Vol 27, Iss 4, p 345 (2025)","raw_type":"article"},{"id":"pmh:oai:pubmedcentral.nih.gov:12026076","is_oa":true,"landing_page_url":"https://www.ncbi.nlm.nih.gov/pmc/articles/12026076","pdf_url":null,"source":{"id":"https://openalex.org/S2764455111","display_name":"PubMed Central","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I1299303238","host_organization_name":"National Institutes of Health","host_organization_lineage":["https://openalex.org/I1299303238"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Entropy (Basel)","raw_type":"Text"}],"best_oa_location":{"id":"doi:10.3390/e27040345","is_oa":true,"landing_page_url":"https://doi.org/10.3390/e27040345","pdf_url":"https://www.mdpi.com/1099-4300/27/4/345/pdf?version=1743062045","source":{"id":"https://openalex.org/S195231649","display_name":"Entropy","issn_l":"1099-4300","issn":["1099-4300"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Entropy","raw_type":"journal-article"},"sustainable_development_goals":[],"awards":[{"id":"https://openalex.org/G7337594588","display_name":null,"funder_award_id":"2024M762372","funder_id":"https://openalex.org/F4320321543","funder_display_name":"China Postdoctoral Science Foundation"}],"funders":[{"id":"https://openalex.org/F4320321543","display_name":"China Postdoctoral Science Foundation","ror":"https://ror.org/0426zh255"}],"has_content":{"pdf":true,"grobid_xml":false},"content_urls":{"pdf":"https://content.openalex.org/works/W4408945339.pdf"},"referenced_works_count":90,"referenced_works":["https://openalex.org/W1507259579","https://openalex.org/W1579286719","https://openalex.org/W1582885939","https://openalex.org/W1975122157","https://openalex.org/W1986758327","https://openalex.org/W1988183975","https://openalex.org/W1988545222","https://openalex.org/W1995293535","https://openalex.org/W2043360861","https://openalex.org/W2050643653","https://openalex.org/W2060583211","https://openalex.org/W2081961596","https://openalex.org/W2087037838","https://openalex.org/W2087338750","https://openalex.org/W2124532504","https://openalex.org/W2127800791","https://openalex.org/W2134183765","https://openalex.org/W2135241016","https://openalex.org/W2145339411","https://openalex.org/W2438598552","https://openalex.org/W2506768821","https://openalex.org/W2560519748","https://openalex.org/W2589111683","https://openalex.org/W2736025193","https://openalex.org/W2752946510","https://openalex.org/W2795098787","https://openalex.org/W2810566052","https://openalex.org/W2896842797","https://openalex.org/W2911972536","https://openalex.org/W2917417387","https://openalex.org/W2982103765","https://openalex.org/W3007464143","https://openalex.org/W3026862505","https://openalex.org/W3030481350","https://openalex.org/W3049235231","https://openalex.org/W3094633476","https://openalex.org/W3106855567","https://openalex.org/W3118485228","https://openalex.org/W3121235414","https://openalex.org/W3121536641","https://openalex.org/W3121917252","https://openalex.org/W3122224215","https://openalex.org/W3122255869","https://openalex.org/W3122413623","https://openalex.org/W3122431760","https://openalex.org/W3122776771","https://openalex.org/W3122804190","https://openalex.org/W3122850875","https://openalex.org/W3123760756","https://openalex.org/W3123933399","https://openalex.org/W3124197164","https://openalex.org/W3124263916","https://openalex.org/W3124434809","https://openalex.org/W3124986135","https://openalex.org/W3125126265","https://openalex.org/W3125210204","https://openalex.org/W3125210735","https://openalex.org/W3125269340","https://openalex.org/W3125591356","https://openalex.org/W3126123981","https://openalex.org/W3136434690","https://openalex.org/W3177393030","https://openalex.org/W3189886232","https://openalex.org/W3201765895","https://openalex.org/W3208569483","https://openalex.org/W4220739030","https://openalex.org/W4220803877","https://openalex.org/W4220906524","https://openalex.org/W4221059506","https://openalex.org/W4226466647","https://openalex.org/W4288886304","https://openalex.org/W4289527661","https://openalex.org/W4295193195","https://openalex.org/W4298404569","https://openalex.org/W4311845866","https://openalex.org/W4323363949","https://openalex.org/W4366777074","https://openalex.org/W4377101102","https://openalex.org/W4383671778","https://openalex.org/W4388195920","https://openalex.org/W4388303769","https://openalex.org/W4390029732","https://openalex.org/W4393320584","https://openalex.org/W4396512225","https://openalex.org/W4399316383","https://openalex.org/W4401996097","https://openalex.org/W4402761920","https://openalex.org/W6634943321","https://openalex.org/W6644238172","https://openalex.org/W6810260341"],"related_works":["https://openalex.org/W3125761283","https://openalex.org/W2164081328","https://openalex.org/W1976722080","https://openalex.org/W3092556108","https://openalex.org/W2117372696","https://openalex.org/W3152831473","https://openalex.org/W3044931971","https://openalex.org/W1995672666","https://openalex.org/W4291017132","https://openalex.org/W4387442864"],"abstract_inverted_index":{"Using":[0],"a":[1],"sample":[2],"of":[3,64,99,118],"S&P":[4],"500":[5],"stocks,":[6],"this":[7],"paper":[8],"examines":[9],"the":[10,20,24,62,116],"investor":[11,56,65],"sentiment":[12,21,37,49,66,73,85,119],"spillover":[13],"network":[14,25],"between":[15],"firms":[16,34,76,122],"and":[17,51,108,123,132],"assesses":[18],"how":[19],"connectedness":[22,38,74,120],"in":[23,136],"impacts":[26],"stock":[27,103],"price":[28,104],"crash":[29,43,68,100],"risk.":[30,138],"We":[31],"demonstrate":[32],"that":[33,61],"with":[35],"higher":[36],"are":[39,52],"more":[40,47,53],"likely":[41],"to":[42,55],"as":[44],"they":[45],"spread":[46],"irrational":[48],"signals":[50],"sensitive":[54],"behaviors.":[57],"Notably,":[58],"we":[59],"find":[60],"effect":[63],"on":[67],"risk":[69,128],"mainly":[70],"stems":[71],"from":[72],"among":[75,121,130],"rather":[77],"than":[78],"firms'":[79],"individual":[80],"sentiment,":[81],"especially":[82],"when":[83],"market":[84],"is":[86],"surging":[87],"or":[88],"declining.":[89],"These":[90],"findings":[91],"remain":[92],"robust":[93],"after":[94],"controlling":[95],"for":[96,127],"other":[97],"determinants":[98],"risk,":[101],"including":[102],"synchronicity,":[105],"accounting":[106],"conservatism,":[107],"internal":[109],"corporate":[110],"governance":[111],"strength.":[112],"Our":[113],"results":[114],"underscore":[115],"importance":[117],"provide":[124],"valuable":[125],"insights":[126],"management":[129],"investors":[131],"regulatory":[133],"authorities":[134],"involved":[135],"monitoring":[137]},"counts_by_year":[{"year":2025,"cited_by_count":3}],"updated_date":"2026-03-20T23:20:44.827607","created_date":"2025-10-10T00:00:00"}
