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Raw article inference merged with the supplementary article inference, keeping the last label per article. The pipeline used for the working paper assigns neutral to 324 articles without a valid raw inference label. Dictionary tone uses (positive words − negative words)/(positive words + negative words), with threshold 0.25." }, "forum": { "label": "Retail discussion", "period": "2010–2025", "source": "Eastmoney Guba stock boards", "last_date": "2025-08-07", "annual": [ { "year": 2010, "posts": 204469, "negative": 21572, "neutral": 147714, "positive": 35183, "all_posts": 204572 }, { "year": 2011, "posts": 307364, "negative": 41413, "neutral": 209416, "positive": 56535, "all_posts": 311875 }, { "year": 2012, "posts": 195806, "negative": 45306, "neutral": 91165, "positive": 59335, "all_posts": 196250 }, { "year": 2013, "posts": 1222826, "negative": 151499, "neutral": 887275, "positive": 184052, "all_posts": 1247520 }, { "year": 2014, "posts": 2505559, "negative": 607057, "neutral": 1319875, "positive": 578627, "all_posts": 2517529 }, { "year": 2015, "posts": 6570314, "negative": 1925860, "neutral": 2970860, "positive": 1673594, "all_posts": 6580074 }, { "year": 2016, "posts": 16767574, "negative": 5523164, "neutral": 7242726, "positive": 4001684, "all_posts": 16778500 }, { "year": 2017, "posts": 25101583, "negative": 7823695, "neutral": 12080444, "positive": 5197444, "all_posts": 25116047 }, { "year": 2018, "posts": 23174433, "negative": 8102147, "neutral": 10251651, "positive": 4820635, "all_posts": 23195321 }, { "year": 2019, "posts": 31720576, "negative": 11171244, "neutral": 13107445, "positive": 7441887, "all_posts": 31734353 }, { "year": 2020, "posts": 47670467, "negative": 17265522, "neutral": 19186948, "positive": 11217997, "all_posts": 47684359 }, { "year": 2021, "posts": 55865998, "negative": 20079217, "neutral": 22965865, "positive": 12820916, "all_posts": 55879053 }, { "year": 2022, "posts": 48241198, "negative": 18011895, "neutral": 19975940, "positive": 10253363, "all_posts": 48260584 }, { "year": 2023, "posts": 36501573, "negative": 12019035, "neutral": 17017927, "positive": 7464611, "all_posts": 38916383 }, { "year": 2024, "posts": 36177807, "negative": 11752370, "neutral": 16858004, "positive": 7567433, "all_posts": 39291313 }, { "year": 2025, "posts": 26142181, "negative": 8481325, "neutral": 12124093, "positive": 5536763, "all_posts": 27788196 } ], "summary": { "posts": 358369728, "negative": 123022321, "neutral": 156437348, "positive": 78910059, "all_posts": 365701929 }, "method": "Eastmoney Guba discussion archive. Annual counts across stock boards. Shares use only valid −1/0/+1 labels. Posts with missing or unresolved labels are excluded from sentiment shares. The 2025 sample ends on 7 August. Publication dates include non-trading days." }, "validation": { "training_posts": 9000, "benchmark_posts": 600, "benchmark_accuracy": 89.17, "benchmark_f1": { "neutral": 82.35, "positive": 90.26, "negative": 93.84 }, "external": [ { "sample": "English translation", "n": 600, "accuracy": 86.83 }, { "sample": "StockTwits", "n": 210, "accuracy": 90.0 }, { "sample": "Long-form financial texts", "n": 135, "accuracy": 90.37 } ] } }