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- Publisher Website: 10.1080/07421222.2019.1598686
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Article: Monetary Incentive and Stock Opinions on Social Media
Title | Monetary Incentive and Stock Opinions on Social Media |
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Authors | |
Keywords | monetary incentive stock opinions social media wisdom of crowds investment advice |
Issue Date | 2019 |
Publisher | Taylor & Francis Inc. The Journal's web site is located at http://www.tandfonline.com/loi/mmis20 |
Citation | Journal of Management Information Systems, 2019, v. 36 n. 2, p. 391-417 How to Cite? |
Abstract | Not only is social media a new channel to obtain financial market information, it has also become a venue for investors to share and exchange investment ideas. We examine the performance consequences of providing monetary incentive to both existing and new amateur analysts on social media and its implications for online investor communities. We find that monetary incentive is effective in increasing the amount of content output and generating more interest from the community, but it leads to neither better nor worse stock recommendations. Additional analysis suggests that monetary incentive results in wider stock and industry coverage, a sign of increased content diversity. This study contributes to the understanding of the role of monetary incentive in stimulating the sharing of value-relevant information by investors in social media communities. |
Persistent Identifier | http://hdl.handle.net/10722/272668 |
ISSN | 2023 Impact Factor: 5.9 2023 SCImago Journal Rankings: 3.070 |
SSRN | |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Chen, H | - |
dc.contributor.author | Hu, YJ | - |
dc.contributor.author | Huang, S | - |
dc.date.accessioned | 2019-08-06T09:14:17Z | - |
dc.date.available | 2019-08-06T09:14:17Z | - |
dc.date.issued | 2019 | - |
dc.identifier.citation | Journal of Management Information Systems, 2019, v. 36 n. 2, p. 391-417 | - |
dc.identifier.issn | 0742-1222 | - |
dc.identifier.uri | http://hdl.handle.net/10722/272668 | - |
dc.description.abstract | Not only is social media a new channel to obtain financial market information, it has also become a venue for investors to share and exchange investment ideas. We examine the performance consequences of providing monetary incentive to both existing and new amateur analysts on social media and its implications for online investor communities. We find that monetary incentive is effective in increasing the amount of content output and generating more interest from the community, but it leads to neither better nor worse stock recommendations. Additional analysis suggests that monetary incentive results in wider stock and industry coverage, a sign of increased content diversity. This study contributes to the understanding of the role of monetary incentive in stimulating the sharing of value-relevant information by investors in social media communities. | - |
dc.language | eng | - |
dc.publisher | Taylor & Francis Inc. The Journal's web site is located at http://www.tandfonline.com/loi/mmis20 | - |
dc.relation.ispartof | Journal of Management Information Systems | - |
dc.rights | This is an Accepted Manuscript of an article published by Taylor & Francis in Journal of Management Information Systems on 14 Jun 2019, available online: http://www.tandfonline.com/10.1080/07421222.2019.1598686 | - |
dc.subject | monetary incentive | - |
dc.subject | stock opinions | - |
dc.subject | social media | - |
dc.subject | wisdom of crowds | - |
dc.subject | investment advice | - |
dc.title | Monetary Incentive and Stock Opinions on Social Media | - |
dc.type | Article | - |
dc.identifier.email | Chen, H: chen19@hku.hk | - |
dc.identifier.authority | Chen, H=rp02520 | - |
dc.description.nature | postprint | - |
dc.identifier.doi | 10.1080/07421222.2019.1598686 | - |
dc.identifier.scopus | eid_2-s2.0-85067350302 | - |
dc.identifier.hkuros | 300702 | - |
dc.identifier.volume | 36 | - |
dc.identifier.issue | 2 | - |
dc.identifier.spage | 391 | - |
dc.identifier.epage | 417 | - |
dc.identifier.isi | WOS:000472232200003 | - |
dc.publisher.place | United States | - |
dc.identifier.ssrn | 2964503 | - |
dc.identifier.issnl | 0742-1222 | - |