Impact of Crisis Coverage on the Financial Market of Russia
The article examines the impact of informational messages characterizing the crisis in the economy on the financial market indicators. The aim of the article is to build an index that allows assessing the crisis situation in the country based on textual analysis of informational messages. Due to the...
Saved in:
Main Authors: | , , , |
---|---|
Format: | Article |
Language: | Russian |
Published: |
Government of the Russian Federation, Financial University
2019-06-01
|
Series: | Финансы: теория и практика |
Subjects: | |
Online Access: | https://financetp.fa.ru/jour/article/view/861 |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
_version_ | 1839575163415298048 |
---|---|
author | E. A. Fedorova S. O. Musienko F. Yu. Fedorov l. V. Vinogradova |
author_facet | E. A. Fedorova S. O. Musienko F. Yu. Fedorov l. V. Vinogradova |
author_sort | E. A. Fedorova |
collection | DOAJ |
description | The article examines the impact of informational messages characterizing the crisis in the economy on the financial market indicators. The aim of the article is to build an index that allows assessing the crisis situation in the country based on textual analysis of informational messages. Due to the literature review, the factors determining the crisis in the economy were identified. The empirical base of the study included more than 10 million news texts from various sources accredited by Thomson Reuters. For the first time, the authors compiled a “bag of words” (dictionary) to determine the crisis situation in the country; and by means of the text analysis, they developed the author’s crisis index calculated on the basis of news reports in foreign media about Russia. They conducted the analysis of the relations between the crisis index and the stock index MOEX. According to the results of the study, it has been established that an increase in the number of news reports determining the crisis situation in the economy has a negative effect on the financial market: it leads to a drop in stock prices. Thus, not only objective economic factors, but also the information component influencing the mood of investors and the behavior of economic entities, affects the key indicators of the financial market. The proposed author’s crisis index can also be used to assess other relations, for example, the effect of the crisis on the exchange rate. |
format | Article |
id | doaj-art-ae9e02f30da8457e8b3383ceba3b6fb9 |
institution | Matheson Library |
issn | 2587-5671 2587-7089 |
language | Russian |
publishDate | 2019-06-01 |
publisher | Government of the Russian Federation, Financial University |
record_format | Article |
series | Финансы: теория и практика |
spelling | doaj-art-ae9e02f30da8457e8b3383ceba3b6fb92025-08-04T13:11:07ZrusGovernment of the Russian Federation, Financial UniversityФинансы: теория и практика2587-56712587-70892019-06-0123311212110.26794/2587-5671-2019-23-3-112-121725Impact of Crisis Coverage on the Financial Market of RussiaE. A. Fedorova0S. O. Musienko1F. Yu. Fedorov2l. V. Vinogradova3Financial University, MoscowFinancial University, MoscowOOO RedSys, MoscowPskov State University, PskovThe article examines the impact of informational messages characterizing the crisis in the economy on the financial market indicators. The aim of the article is to build an index that allows assessing the crisis situation in the country based on textual analysis of informational messages. Due to the literature review, the factors determining the crisis in the economy were identified. The empirical base of the study included more than 10 million news texts from various sources accredited by Thomson Reuters. For the first time, the authors compiled a “bag of words” (dictionary) to determine the crisis situation in the country; and by means of the text analysis, they developed the author’s crisis index calculated on the basis of news reports in foreign media about Russia. They conducted the analysis of the relations between the crisis index and the stock index MOEX. According to the results of the study, it has been established that an increase in the number of news reports determining the crisis situation in the economy has a negative effect on the financial market: it leads to a drop in stock prices. Thus, not only objective economic factors, but also the information component influencing the mood of investors and the behavior of economic entities, affects the key indicators of the financial market. The proposed author’s crisis index can also be used to assess other relations, for example, the effect of the crisis on the exchange rate.https://financetp.fa.ru/jour/article/view/861text analysiscrisiscrisis indexfinancial marketstock index |
spellingShingle | E. A. Fedorova S. O. Musienko F. Yu. Fedorov l. V. Vinogradova Impact of Crisis Coverage on the Financial Market of Russia Финансы: теория и практика text analysis crisis crisis index financial market stock index |
title | Impact of Crisis Coverage on the Financial Market of Russia |
title_full | Impact of Crisis Coverage on the Financial Market of Russia |
title_fullStr | Impact of Crisis Coverage on the Financial Market of Russia |
title_full_unstemmed | Impact of Crisis Coverage on the Financial Market of Russia |
title_short | Impact of Crisis Coverage on the Financial Market of Russia |
title_sort | impact of crisis coverage on the financial market of russia |
topic | text analysis crisis crisis index financial market stock index |
url | https://financetp.fa.ru/jour/article/view/861 |
work_keys_str_mv | AT eafedorova impactofcrisiscoverageonthefinancialmarketofrussia AT somusienko impactofcrisiscoverageonthefinancialmarketofrussia AT fyufedorov impactofcrisiscoverageonthefinancialmarketofrussia AT lvvinogradova impactofcrisiscoverageonthefinancialmarketofrussia |