Examining the influence of stock market variables on microblogging sentiment

• Published in: Journal of business research Vol. 69; no. 6; pp. 2087 - 2092
• Main Authors: Piñeiro-Chousa, Juan Ramón, López-Cabarcos, M. Ángeles, Pérez-Pico, Ada María
• Format: Journal Article
• Language: English
• Published: New York Elsevier Inc 01.06.2016; Elsevier Sequoia S.A
• Subjects: Blogs; Capitalization; Comparative analysis; Experience of users; Fuzzy-set QCA; Microblog sentiment; Number of followers; P/E ratio; Ratios; Securities markets; Tobin's Q; User experience; Fuzzy-set QCA; Number of followers; Experience of users; Microblog sentiment; P/E ratio; Tobin's Q
• ISSN: 0148-2963; 1873-7978
• DOI: 10.1016/j.jbusres.2015.12.013

This research investigates different combinations of causal conditions that may relate to microblogging sentiment. The study considers financial variables, such as VIX, Tobin's Q, capitalization, or P/E ratio, and variables related to social media activity, such as number of twits, number of followers, or the experience of the users. Using a fuzzy-set qualitative comparative analysis, this research analyzes the sentiment of stock-related microblogging messages of S&P 500 Index posted between October 2009 and October 2014. The model where the message sentiment increases finds three causal recipes and all of them contain user experience and number of followers: (1) the configuration within user experience, number of followers, and Tobin's Q; (2) the configuration within user experience, number of followers, and lower P/E ratio, lower capitalization, and lower Tobin's Q; (3) and the configuration within user experience, number of followers, P/E ratio, and Tobin's Q. The study discusses the results.