Can economic news sentiment inspire entrepreneurship

As a way to guide and supervise public opinion, news inevitably contains certain emotional tendencies. Whether such emotional tendencies will have an impact on the entrepreneurial decisions and behaviors of micro-subjects has become an economic topic of great research value. This thesis takes prefecture-level cities from 2013 to 2023 as research samples, compares existing large language models, and uses LERT large language model with better overall performance to measure monthly economic news sentiment in cities, and further studies the impact of news sentiment on regional entrepreneurial vitality. The results of the study found that positive economic news sentiment can increase entrepreneurial vitality in cities, and passed a series of robustness tests. The mechanism analysis shows that the economic news sentiment mainly improves the entrepreneurial vitality of cities by changing expectations, which is embodied in the effect of boosting consumption of consumers, stimulating demand of entrepreneurs and lowering service threshold of financial institutions. Moreover, business environment and regional entrepreneurial failure tolerance can strengthen the effect of economic news sentiment on entrepreneurial vitality. Heterogeneity analysis shows that in areas with lower housing price volatility, higher public attention and lower unemployment rate, economic news sentiment has a more significant promoting effect on urban entrepreneurial vitality. The article provides certain reference significance for exploring how to effectively use modern media to boost the confidence of entrepreneurs, continuously promote mass entrepreneurship to stimulate market vitality, and then cultivate the new momentum of endogenous economic growth when the economy is expected to weaken.