The Psychological Impact of Smog Pollution on Investors

Bin Li; Yang Liu; Tingyu Zhang; Yijing Wang

doi:10.3389/fpsyg.2022.803336

The Psychological Impact of Smog Pollution on Investors

Front Psychol. 2022 Feb 4:13:803336. doi: 10.3389/fpsyg.2022.803336. eCollection 2022.

Authors

Bin Li¹, Yang Liu², Tingyu Zhang¹, Yijing Wang³

Affiliations

¹ School of Economics and Management, Beijing University of Chemical Technology, Beijing, China.
² School of Government, Peking University, Beijing, China.
³ Planning and Finance Department, Xiangtan University, Xiangtan, China.

Abstract

This research empirically analyzes the psychological impact of smog pollution on investors. Results indicate that smog pollution has negative impact on investor sentiment which is weakened by the positive tone in media reporting. Empirical evidence for the impact of smog pollution on investor sentiment and the related moderating role of media tone is presented in this study.

Keywords: PM 2.5; investor sentiment; media tone; moderating effect; smog pollution.