The Influence of Research Reports on Stock Returns: The Mediating Effect of Machine-Learning-Based Investor Sentiment

<table class="table-group" id="tab10"><tr><td><table class="table"><tr><td class="thead-hr" colspan="4"><hr/></td></tr><tr class="thead"><td class="align_left"> </td><td class="align_center">Coefficient</td><td class="align_center">Std. error</td><td class="align_center"><i>z</i> value</td></tr><tr><td class="thead-hr" colspan="4"><hr/></td></tr><tr><td class="align_left">Total effect</td><td class="align_center">0.0248163</td><td class="align_center">0.0033022</td><td class="align_center">7.52</td></tr><tr><td class="align_left">Direct effect</td><td class="align_center">0.0246792</td><td class="align_center">0.0033047</td><td class="align_center">7.47</td></tr><tr><td class="align_left">Indirect effect</td><td class="align_center">0.0001372</td><td class="align_center">6.21665<i>e</i> − 05</td><td class="align_center">2.21</td></tr><tr class="table-tr"><td colspan="4"><hr class="tbody-hr"/></td></tr></table></td></tr></table>

<div>Results of mediating effect analysis (using CSMAR sentiment index).</div>

Discrete Dynamics in Nature and Society

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Table 10

Table 10: The Influence of Research Reports on Stock Returns: The Mediating Effect of Machine-Learning-Based Investor Sentiment 