Media Sentiment, Information Centrality and Bank Liquidity Risk

Abstract

Abstract: From the cross perspective of public opinion and overall network correlation, this paper regressesively analyzes the mechanism of how media sentiment, network structure and their interactive influence bank liquidity risk. The study finds that the media sentiment index is significantly positively correlated with bank liquidity risk for all banks and non-national commercial banks, but so far as national commercial banks are concerned, negative media sentiment index and mixed media sentiment index have a negative correlation with bank liquidity. Information centrality has obviously negative correlation with bank liquidity risk, which shows that the network effect on bank liquidity risk is double-sided. Mixed interaction effect and negative interaction effect have significant negative impact on bank liquidity risk, while the positive interaction effect has significant positive impact on bank liquidity risk. The impact of national commercial banks on bank liquidity risk is significantly higher than that of all banks, but not significantly stronger than that of non-national commercial banks.

Key words: media reports, media sentiment, information centrality, bank liquidity risk

Wang Lei, Li Shouwei, Chen Tingqiang. Media Sentiment, Information Centrality and Bank Liquidity Risk[J]. Management Review, 2022, 34(5): 37-55.

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