| Autor: |
Zhou, Jiali, Ng, Ka Chung |
| Předmět: |
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| Zdroj: |
Proceedings of the International Conference on Information Systems (ICIS); 2020, p1-9, 9p |
| Abstrakt: |
This study builds the causal link between the online media and finance market using the context of Chinese stock market. We find that, ranking higher in a typical daily market report causes a stock to have 10% more chance to open higher on the second day than those lower ranked stocks. We further find evidence that this impact of social media reflects a bias rather than a rational expectation, and the effect is stronger when more stocks reach the price limit. However, this effect disappears when investors are given more time to think. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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