The Academy of Financial Services (AFS) is excited to be collaborating with FPA to provide an "integrated conference experience" for AFS members this year. The AFS research conference will run for the full 2.5 days of the FPA Conference as part of a dedicated research track bringing the best of AFS and the Journal of Financial Planning (JFP) to you.
- A dedicated Research Room for presentations designed to bring the most relevant research impacting professional financial planners. This includes research sessions sponsored by the JFP and peer-reviewed research papers presented by AFS members. These sessions are CE credit approved.
- The winner of the JFP's Montgomery-Warschauer Award for best research from the prior year will present their research.
- In the Research Room AFS will coordinate other research content such as a panel discussion with the editors of the 4 major FP research journals explaining to planners and academics the type of research content to be found, how to best consume/digest research and apply it to a FP practice and more.
- A new FP Research Shark Tank. Based on the format of the popular TV series a select number of researchers will do 5 minute "pitches" on research that they believe would be significantly impactful for practitioners. Planners and researchers will then vote on the most exciting research proposal.
- AFS are co-ordinating 2 additional mini-breakout research rooms where researchers will present additional peer-reviewed, unpublished research selected from the many submissions we received. A timetable of these sessions can be found below.
- AFS will manage the research rooms for fully-hybrid attendance with face-to-face or virtual attendance. Although the content will be exceptional, we hope to see many of you in person as the networking, exhibit hall, FPA keynote speakers and other sessions outside of the research cannot be experienced any other way.
Investigating the Correlation between Investors’ Mood and Stock Prices: Using Text Data from the Consumer Financial Protection Bureau’s Complaints
Short Description
To sum up, the research goal of this study is to investigate how investors’ moods are associated with market dynamics, such as stock price. To measure the investors’ moods, the study utilized one of the natual lanuage processing techniques, which produced the construct for measuring the intensity of complaints (i.e., marginal topic probability, MTP). However, the MTP lacks contextual understanding, so instrumental variables are added to the investigations (i.e., sentiment scores). This research highlights that people's emotional responses affect how topics are influenced and demonstrates a high correlation with stock prices. This connection adds an essential dimension to understanding financial consumers’ behavior in the financial service industry by seeing the stock price. As a contribution, this study extends beyond traditional financial analysis by incorporating the collective sentiment derived from individual investor complaints, offering a novel perspective on how consumers’ contextual factors influence financial markets.
Upload a BLIND copy in Word Document format. Ensure all authors names are removed from the submission. Use the Paper Name + BLIND as the name of the file.
Lead & Corresponding Author
Wookjae Heo, Ph.D., Purdue University
Email Address
Names of authors in order
Yeonseo Jo, Wookjae Heo, Yunju Park