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The Impact of News on Videogame Stock Market Prices and Volatility
Mertová, Veronika ; Čech, František (advisor) ; Kukačka, Jiří (referee)
The thesis investigates the impact of social media and news headline sentiment on stock prices, specifically comparing gaming firms to companies from other industries. Tweets and news headlines containing keywords referring to four selected gaming and four non-gaming companies were collected over 5 and 3 months, respectively. Both tweets and news collected came from the general users or media rather than focusing solely on financial ones. The data were aggregated into daily values. Daily stock price data were also collected for each examined company to derive returns and volatility. The data were analysed using a vector autoregression model in combination with Granger causality. The study found no significant differences between gaming and non-gaming sectors. The polarity of sentiment showed no effect on stock prices. However, when sentiment was divided into different emotions, some significance was observed, although the findings varied across individual firms regardless of their sectors. It was concluded that when using sentiment for market predictions, it is beneficial to either utilize specifically financial media or determine the specific type of sentiment that influences a particular stock. JEL Classification G14, G17, C32, C58 Keywords Tweets, News Headlines, Gaming Industry, Sentiment...
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The influence of watching videogame streams on purchase decisions of gamers and their willingness to pay, evidence from the Czech Republic
Mertová, Veronika ; Polák, Petr (advisor) ; Kukačka, Jiří (referee)
This thesis aims to understand the relationshipbetween viewership of video game streams and purchase decisions players make. Furthermore, the price they are willing to pay is explored. The emphasis is on understandingthe difference in these effects for big blockbuster games and small independentlydevelopedtitles. The data was collectedusingan online survey distributed in gaming-focusedgroups on social media. The data on purchase decisions was analysedusing a logit model. It showed that trust in streamer's recommendations increases the chance of purchase along with the number of preferred genres and games bought for indie titles. Moreover,it showed a positive relationshipbetweenbeing a student and purchasinga big game after watching. A standard ordinary least squares model was used to analyze the price and showed that hardcore gamers, people who buy on release day, and people with a wider range of interest in games tend to pay more. On the other hand, older people, students, and people who prefer to buy games on sale are willing to pay less. Keywords Video games, streaming,indie, AAA, willingness to pay, logit,Czech Republic Title The influence of watching videogame streams on purchase decisions of gamers and their willingness to pay, evidence from the Czech Republic
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