Sentiment Change and Negative Herding: Evidence from Microblogging and News

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dc.contributor.authorDong, Hang
dc.contributor.authorKim, Ji Kyung (Jeanne)
dc.contributor.authorChoi, Jeonghye
dc.contributor.authorChang, Sue Ryung
dc.contributor.funderYonsei University
dc.contributor.rorhttps://ror.org/02jjdwm75
dc.date.accessioned2025-11-20T09:35:02Z
dc.date.available2025-11-20T09:35:02Z
dc.date.issued2022-01-07
dc.description.abstractCompanies deal with good and bad publicity daily. We study the impact of news on consumer sentiment toward a company in the presence of pre-news sentiment. We use Sina Weibo’s (the Chinese version of Twitter) microblogging data and the full list of news items published in Sina Finance between 2013 and 2014 to measure sentiment. In our study, we address the following research questions: Does negative news have a greater impact than positive news on consumer sentiment change? Does news affect sentiment change to a greater degree when pre-news sentiment matches the news valence? Does the type of company (either B2C or B2B) matter? Our empirical findings show that consumers overreact to negative news and negative pre-news sentiment intensifies such overreaction, leading to negative herding. Further, negative pre-news sentiment is even more damaging for B2B companies than for B2C companies.
dc.description.peerreviewedyes
dc.description.statusPublished
dc.formatapplication/pdf
dc.identifier.citationKim, J. J., Dong, H., Choi, J., & Chang, S. R. (2022). Sentiment change and negative herding: Evidence from microblogging and news. Journal of Business Research, 142, 364-376. https://doi.org/10.1016/j.jbusres.2021.12.055
dc.identifier.doihttps://doi.org/10.1016/j.jbusres.2021.12.055
dc.identifier.issn1873-7978
dc.identifier.officialurlhttps://www.sciencedirect.com/science/article/pii/S0148296321009693
dc.identifier.urihttps://hdl.handle.net/20.500.14417/3866
dc.language.isoen
dc.page.final376
dc.page.initial364
dc.page.total12
dc.publisherElsevier
dc.relation.departmentFinance
dc.relation.entityIE University
dc.relation.schoolIE Business School
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/deed
dc.subject.keywordconsumer sentiment
dc.subject.keywordnegativity effect
dc.subject.keywordherd behavior
dc.subject.keywordnegative herding
dc.subject.keywordmicroblogging
dc.subject.keywordB2C versus B2B
dc.titleSentiment Change and Negative Herding: Evidence from Microblogging and News
dc.typeinfo:eu-repo/semantics/article
dc.version.typeinfo:eu-repo/semantics/acceptedVersion
dc.volume.number142
dspace.entity.typePublication
relation.isAuthorOfPublicatione434c0e9-8d01-45f1-8a0f-8b4d8dc633d1
relation.isAuthorOfPublicationcdca7310-0fca-4968-bbce-739777b69bd4
relation.isAuthorOfPublication.latestForDiscoverye434c0e9-8d01-45f1-8a0f-8b4d8dc633d1

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