Fig 1.
Coordinate chart of media information characteristics at different media development stages.
Fig 2.
Media information flow diagram under different media development stages.
Fig 3.
Panoramic network operation architecture diagram.
Table 1.
Representative literature on stock market research under different media stages.
Fig 4.
Research design and research process.
Fig 5.
Emotional word matching flowchart.
Fig 6.
Rules for matching numerical financial indicators with textual quantitative indicators.
Table 2.
Abbreviations and descriptions of variables in the regression model.
Table 3.
Descriptive statistics of model variables.
Table 4.
Outputs of the simple linear regression models and the multiple linear regression model.
Fig 7.
Parallel trend test.
Table 5.
Regression results of the differences in differences model on daily data.
Table 6.
Regression results of the differences in differences model on quarterly data.
Table 7.
Robustness test results.
Table 8.
Heterogeneity testing results of economic regions.
Table 9.
Heterogeneity testing results of circulating market value.
Table 10.
Heterogeneity testing results of industry.