Identifying the drivers of economic uncertainty perception in China: a news-based approach

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dc.contributor.authorHufnagel, Lena Marie
dc.contributor.authorMetzler, Ralf
dc.date.accessioned2025-08-28T11:15:29Z
dc.date.available2025-08-28T11:15:29Z
dc.date.issued2024-09-25
dc.description.abstractRelying on news media as a reflection of public sentiment, we build the Uncertainty Perception Indicator (UPI) to measure perceived economic uncertainty in China. Applying Latent Dirichlet Allocation to nā€‰=ā€‰5,600 news articles, we decompose UPI into three components: Uncertainty relating to the real economy, financial markets, and politics. We find that on average, overall uncertainty perception is mainly driven by uncertainty about the real economy. This is especially true since 2018, when around 60 percent of the corpus was related to the real economy. We also find that stock price exposure is highest for real economic uncertainty.en
dc.identifier.urihttp://hdl.handle.net/2003/43870
dc.language.isoen
dc.relation.ispartofseriesAsia-Pacific journal of accounting
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectMedia effectsen
dc.subjectEconomic uncertainty
dc.subjectLatent dirichlet allocationen
dc.subjectAsset pricingen
dc.subjectCross-section of stock retrunsen
dc.subject.ddc070
dc.titleIdentifying the drivers of economic uncertainty perception in China: a news-based approachen
dc.typeText
dc.type.publicationtypeResearchArticle
dcterms.accessRightsopen access
eldorado.dnb.deposittrue
eldorado.doi.registerfalse
eldorado.secondarypublicationtrue
eldorado.secondarypublication.primarycitationHufnagel, L. M., & Metzler, R. (2024). Identifying the drivers of economic uncertainty perception in China: a news-based approach. Asia-Pacific Journal of Accounting & Economics, 1ā€“18. https://doi.org/10.1080/16081625.2024.2405494
eldorado.secondarypublication.primaryidentifierhttps://doi.org/10.1080/16081625.2024.2405494

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