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The Sentiment Cascade: A Sequential Structure from Earnings Calls through Media and Investors to Market Reaction
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DOI:10.1016/j.ribaf.2026.103466.png)
Abstract
En 中文
• SCM provides a system-level structural view of post–earnings call sentiment. • A sequential configuration fits the data better than alternative structures. • The sequential configuration does not fully capture market reaction. • A direct linkage remains after accounting for intermediary sentiment layers. • Structural linkages vary with firm characteristics and sentiment conditions.
Keywords:
Sentiment cascade
Earnings calls
Media sentiment
Investor sentiment
Market reaction
Journal
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6.9
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2.7K
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1.0W
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