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Both traditional finance and behavioral finance theory have reached a consensus that the news media de facto influence stock prices to some extent. There is also evidence that investors are not only subject to the sentiment of related news articles but also the public opinions. The challenge lies on how to quantify such sentimental information to predict(More)
Real-world financial time series often contain both linear and nonlinear patterns. However, traditional time series analysis models, such as ARIMA, hold the assumption that a linear correlation exists among time series values while leaving nonlinear relation into error terms. Based on financial theories, we argue that investor sentiment is the main(More)
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