{"title":"Information Content of Financial Youtube Channel: Case Study of 3PROTV and Korean Stock Market","authors":"HyeonJun Kim","doi":"arxiv-2311.15247","DOIUrl":null,"url":null,"abstract":"We investigate the information content of 3PROTV, a south Korean financial\nyoutube channel. In our sample we found evidence for the hypothesis that the\nchannel have information content on stock selection, but only on negative\nsentiment. Positively mentioned stock had pre-announcement spike followed by\nsteep fall in stock price around announcement period. Negatively mentioned\nstock started underperforming around the announcement period, with\nunderreaction dynamics in post-announcement period. In the area of market\ntiming, we found that change of sentimental tone of 3PROTV than its historical\naverage predicts the lead value of Korean market portfolio return. Its\npredictive power cannot be explained by future change in news sentiment, future\nshort term interest rate, and future liquidity risk.","PeriodicalId":501045,"journal":{"name":"arXiv - QuantFin - Portfolio Management","volume":"6 10","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2023-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"arXiv - QuantFin - Portfolio Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/arxiv-2311.15247","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
We investigate the information content of 3PROTV, a south Korean financial
youtube channel. In our sample we found evidence for the hypothesis that the
channel have information content on stock selection, but only on negative
sentiment. Positively mentioned stock had pre-announcement spike followed by
steep fall in stock price around announcement period. Negatively mentioned
stock started underperforming around the announcement period, with
underreaction dynamics in post-announcement period. In the area of market
timing, we found that change of sentimental tone of 3PROTV than its historical
average predicts the lead value of Korean market portfolio return. Its
predictive power cannot be explained by future change in news sentiment, future
short term interest rate, and future liquidity risk.
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