摘要
频发的股市市场传闻严重影响了我国资本市场的健康发展,而财经媒体在这一事件中主动塑造传闻事件并引导市场波动的说服机制尚不明确。本文手工收集了2014-2017年间我国沪深两市216个传闻事件样本,基于亚里士多德的修辞框架构建并量化了传闻的三元说服特征。实证发现利好传闻通过诉诸逻辑和诉诸信任的说服特征显著引导了涉闻公司股价波动;而在利空背景下,诉诸情感的说服特征成为显著引导涉闻公司股价波动的主因。不同于以往研究中主要强调的媒体"治理作用",本文的研究则揭示并验证了财经媒体通过传闻说服市场、进而造成股市波动背后重要的"引导作用",为研究媒体、市场间的复杂关系提供了新的视角。
Frequent occurrence of stock rumors impaired the efficiency in Chinese stock markets. However, how financial media that propagated rumors convinced market to believe them still remains unknown. This essay collected 216 stock rumors occurred in China during 2014 and 2017. We quantified each rumor’s feature of persuasion by using Aristotle’s triple rhetoric persuading discourses and then explored the relationship between these features and the fluctuation they caused in related stock price. We found that both positive and negative coverage used rhetoric discourse to impress the market. Negative rumors employed pathos mode to impress the market while positive rumors affect the market by using logic and trust mode. Our study confirmed that stock rumors formed the discourse feature to make impression of the market. This could help other researchers to make better understanding of the complex role financial media played during market from a discourse view.
作者
钟惠波
曾奕萌
ZHONG Hui-bo;ZENG Yi-meng
出处
《福建师范大学学报（哲学社会科学版）》
CSSCI
北大核心
2019年第6期87-98,170,共13页
Journal of Fujian Normal University:Philosophy and Social Sciences Edition
基金
作者主持的国家自然科学基金面上项目“环境条件视角下异质性创业与区域经济发展的关系研究”(71973010)
北京市社会科学基金一般项目“全要素生产率增长视角的供给侧结构性改革策略研究”(16LJB003)系列成果之一
