Chiou, Wan-Jiun Paul
[VerfasserIn]
;
Knewtson, Heather
[Sonstige Person, Familie und Körperschaft];
Nofsinger, John R.
[Sonstige Person, Familie und Körperschaft]
Anmerkungen:
In: Wan-Jiun Paul Chiou, Heather S. Knewtson, John R. Nofsinger, Paying attention to social media stocks, International Review of Economics & Finance, Volume 59, 2019, Pages 106-119, ISSN 1059-0560, Doi.org/10.1016/j.iref.2018.08.009
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 19, 2017 erstellt
Beschreibung:
Social media has reshaped business models, economies, politics, and culture around the world. In this paper, we identified social media stocks from various sectors by using a strict, academic definition and then studied their performance and return characteristics. Multivariate regression results demonstrate that being recognized as a social media firm yields extra return. The performance of social media stocks is not associated with macro-level sentiment, but rather with firm-level attention paid by potential investors. Causality tests indicate that the default risk premium and volatility have incremental power in explaining the performance of social media stocks