WALKING DOWN WALL STREET WITH A TABLET: A SURVEY OF STOCK MARKET PREDICTIONS USING THE WEB
这篇综述探讨了在线新闻对金融市场的影响程度,梳理了利用网络信息预测金融走势的文献,并整合了经济学、文本挖掘、情感分析和机器学习等多学科的研究成果,为未来研究提供建议。
Abstract ‘A blindfolded chimpanzee throwing darts at The Wall Street Journal could select a portfolio that would do as well as the (stock market) experts’ [Malkiel (2003) The efficient market hypothesis and its critics. Journal of Economic Perspectives 17(1): 59–82)]. However, what if this chimpanzee could browse the Internet before throwing any darts? In this paper, we ask whether online news has any influence on the financial market, and we also investigate how much influence it has. We explore the burgeoning literature on the predictability of financial movements using online information and report its mixed findings. In addition, we collate the efforts of various disciplines, including economics, text mining, sentiment analysis and machine learning, and we offer suggestions for future research.