Vliv sentimentu na vývoj kurzu akcií

Abstract

The diploma thesis is focused on the evaluation of the influence of sentiment on stock prices behaviour. The goal of the thesis is to verify the influence of the prevailing sentiment on the market to the price index PX-TR behaviour. Using the method based on internet data, it is examined whether there is a relationship between the frequency of searched selected negative keywords identified by Google Search and the PX-TR price index behaviour. Furthermore, the influence of sentiment measured by the direct method on the PX-TR price index behaviour and the subsequent comparison of both approaches are verified. The work is divided into three parts. The first part - the second chapter is devoted to the theoretical basis of behavioral finance and behavioral prejudices and heuristics. In the third chapter, the ways of measuring sentiment are divided and described in detail. The fourth chapter, which is a practical part of the thesis, is devoted to the description of data collection, data editing and subsequent correlation and regression analysis. Overall, both sentiment measured by the Internet-based method and sentiment measured by the direct method affect the PX-TR price index behaviour, and the relationship between the PX-TR price index and keyword indices, in contrast to sentiment measured by the direct method, can be considered strong enough.