Analyzing Social Media Sentiment Using Brand24 to Assess Stock Investment Decisions in the Indonesian Capital Market

(Analisis Sentimen Media Sosial Menggunakan Brand24 untuk Mengevaluasi Keputusan Investasi Saham di Pasar Modal Indonesia)

Authors

  • Granada Anggita Alexa Putri Universitas Islam Negeri K.H. Abdurrahman Wahid Author
  • Ainun Roifa Universitas Islam Negeri K.H. Abdurrahman Wahid Author
  • Gunawan Aji Universitas Islam Negeri K.H. Abdurrahman Wahid Author

DOI:

https://doi.org/10.12026/sym.v1i1.079

Keywords:

Brand24, Capital Market, Digital Sentiment, Economic Stability, Investment

Abstract

This study analyzes the influence of digital sentiment on public perceptions of economic stability and investment decision tendencies in the Indonesian capital market. A descriptive qualitative method was employed, utilizing Brand24 to monitor sentiment related to economic and investment keywords. Thematic analysis reveals that 74% of discussions originate from mainstream media, indicating that public opinion is largely shaped by institutional news coverage. Positive sentiment dominates the digital discourse, reflecting optimistic views of the economic outlook. These findings align with the concept of availability bias, suggesting that investors respond primarily to frequently encountered information. The study concludes that digital sentiment plays a role in shaping risk perception and investment behavior, and highlights the importance of considering media dominance in sentiment-based market analysis within the Indonesian context.

Abstrak
Penelitian ini menganalisis pengaruh sentimen digital terhadap persepsi stabilitas ekonomi dan kecenderungan keputusan investasi di pasar modal Indonesia. Metode yang digunakan adalah kualitatif deskriptif dengan pemantauan sentimen melalui Brand24 pada kata kunci terkait ekonomi dan investasi. Analisis tematik menunjukkan bahwa 74% percakapan berasal dari media arus utama, sehingga opini publik lebih banyak dibentuk oleh pemberitaan institusional. Sentimen positif mendominasi diskursus digital dan mencerminkan persepsi optimistis terhadap kondisi ekonomi. Hasil penelitian selaras dengan konsep availability bias, di mana investor cenderung merespons informasi yang paling sering muncul. Penelitian ini menegaskan bahwa sentimen digital berperan dalam membentuk persepsi risiko dan kecenderungan investasi, serta penting bagi analisis pasar untuk mempertimbangkan dominasi media berita dalam konteks Indonesia.

References

Ainur, Aan. “Pengaruh Ketidakpastian Ekonomi Global Terhadap Inflasi, Kurs, Foreign Direct Investment (Fdi), Harga Emas, Dan Pertumbuhan Ekonomi Di Indonesia.” Jurnal Ekonomi Perjuangan 6, no. 1 (2024): 43–54.

Aminarty, Fhifi, and dkk. “Interaksi Antara Perilaku Investor Dan Tren Pasar Modal.” Advances in Management & Financial Reporting 3 (3) (2025). https://doi.org/https://doi.org/10.60079/amfr.v3i3.531.

Barber, Brad M, and Terrance Odean. “The Behavior of Individual Investors.” Financial Analysts Journal 77 (2) (2021): 7–32. https://doi.org/https://doi.org/10.1080/0015198X.2021.1873830.

Braun, V., and V Clarke. “Using Thematic Analysis in Psychology.” Qualitative Research in Psychology 3 (2) (2006): 77–101.

Cornelissen, Joep P. “Corporate Communication: A Guide to Theory and Practice,” 2023.

Creswell, J. W. Qualitative Inquiry and Research Design: Choosing Among Five Approaches. 3rd ed. Thousand Oaks, CA: SAGE Publications., 2013.

Grevenbrock, Nils. “Dispositional Optimism (and Pessimism), Wealth, and Stock Market Participation.” Journal of Economic Psychology 81 (December 2020): 102328. https://doi.org/10.1016/j.joep.2020.102328.

Hakim, Ummu Habibah, and Hikmah Endraswati. “Analisis Hubungan Nilai Tukar Dan Arus Masuk Investasi Asing Langsung: Studi Empiris Di Negara-Negara Developing-Eight (D-8) Periode 2008-2021.” JAE (Jurnal Akuntansi Dan Ekonomi) 9, no. 1 (2024): 19–30.

Kaplan, Andreas M, and Michael Haenlein. “Ulers of the World, Unite! The Challenges and Opportunities of Social Media.” Business Horizons 62 (1) (2019): 59–68. https://doi.org/https://doi.org/10.1016/j.bushor.2018.08.004.

Liu, Bing. “Sentiment Analysis and Subjectivity.” Handbook of Natural Language Processing 2, no. 2010 (2010): 627–66.

Mankiw, N. Gregory. Macroeconomics. New York: New York: Worth Publishers, 2020.

Maurya, Prince Kumar, Rohit Bansal, and Anand Kumar Mishra. “Investor Sentiment and Its Implication on Global Financial Markets: A Systematic Review of Literature.” Qualitative Research in Financial Markets, February 19, 2025. https://doi.org/10.1108/QRFM-04-2024-0087.

Nadya, Dewita Rohani, Friska Amelia Purba, Aulia Nurul Annisa, Ahmad Habibi, M Fahrizal Hafiz, and Muhammad Ikhsan Harahap. “Studi Literatur: Analisis Tiga Pilar Makroekonomi Dalam Keputusan Investasi Di Pasar Modal Indonesia.” Jurnal Ilmu Manajemen, Bisnis Dan Ekonomi | JIMBE 3, no. 4 (2025): 93–108.

Nowzohour, Laura, and Livio Stracca. “More Than A Feeling: Confidence, Uncertainty, And Macroeconomic Fluctuations.” Journal of Economic Surveys 34, no. 4 (September 20, 2020): 691–726. https://doi.org/10.1111/joes.12354.

Otegui, Diego. Business Growth in Times of Instability: Empowering Private Companies Through Disaster Risk Reduction. Springer Nature, 2024.

Purnamasari, Sinta Ayu. “Mekanisme Perkembangan Pasar Modal Sebagai Salah Satu Produk Investasi Di Masyarakat.” Jurnal Rumpun Manajemen Dan Ekonomi 2, no. 3 (2025): 499–515. https://doi.org/https://doi.org/10.61722/jrme.v2i3.4739.

Raharjo, D, and S Wibowo. “Pengaruh Inflasi, Suku Bunga, Dan Nilai Tukar Terhadap Minat Investasi Di Bursa Efek Indonesia.” Jurnal Ekonomi Dan Pembangunan, 2021.

Santoso, A, and B Widodo. “Analisis Sentimen Media Sosial Terhadap Respons Investor Pada Kondisi Ekonomi Indonesia.” Jurnal Ekonomi Dan Bisnis, 2023.

Strycharz, Joanna, Nadine Strauss, and Damian Trilling. “The Role of Media Coverage in Explaining Stock Market Fluctuations: Insights for Strategic Financial Communication.” International Journal of Strategic Communication 12, no. 1 (January 21, 2018): 67–85. https://doi.org/10.1080/1553118X.2017.1378220.

Tandelilin, Eduardus. Portofolio Dan Investasi: Teori Dan Aplikasi. Yogyakarta: Kanisius, 2017., 2017.

Wang, Weirui, and Yan Huang. “Narrative and Non-Narrative Persuasion, Confirmation Bias and Presentation Order in Online Media: Understanding the Effectiveness of Disconfirmation Messages.” Communication and the Public 9, no. 2 (June 10, 2024): 199–215. https://doi.org/10.1177/20570473241246290.

Zhang, Lei, and Liu Bing. “Sentiment Analysis and Opinion Mining in Financial Markets: A Survey.” CM Computing Surveys 53 (3) (2020): 1–37. https://doi.org/https://doi.org/10.1145/3375417.

Downloads

Published

2026-01-05

How to Cite

Granada Anggita Alexa Putri, Ainun Roifa, and Gunawan Aji. 2026. “Analyzing Social Media Sentiment Using Brand24 to Assess Stock Investment Decisions in the Indonesian Capital Market: (Analisis Sentimen Media Sosial Menggunakan Brand24 Untuk Mengevaluasi Keputusan Investasi Saham Di Pasar Modal Indonesia)”. SYMPHONIA: Journal of Theory and Research Output 1 (1): 70-78. https://doi.org/10.12026/sym.v1i1.079.