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Article: Monetary Incentive and Stock Opinions on Social Media

TitleMonetary Incentive and Stock Opinions on Social Media
Authors
Keywordsmonetary incentive
stock opinions
social media
wisdom of crowds
investment advice
Issue Date2019
PublisherTaylor & 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?
AbstractNot 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 Identifierhttp://hdl.handle.net/10722/272668
ISSN
2017 Impact Factor: 2.744
2015 SCImago Journal Rankings: 3.036
SSRN

 

DC FieldValueLanguage
dc.contributor.authorChen, H-
dc.contributor.authorHu, YJ-
dc.contributor.authorHuang, S-
dc.date.accessioned2019-08-06T09:14:17Z-
dc.date.available2019-08-06T09:14:17Z-
dc.date.issued2019-
dc.identifier.citationJournal of Management Information Systems, 2019, v. 36 n. 2, p. 391-417-
dc.identifier.issn0742-1222-
dc.identifier.urihttp://hdl.handle.net/10722/272668-
dc.description.abstractNot 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.languageeng-
dc.publisherTaylor & Francis Inc. The Journal's web site is located at http://www.tandfonline.com/loi/mmis20-
dc.relation.ispartofJournal of Management Information Systems-
dc.subjectmonetary incentive-
dc.subjectstock opinions-
dc.subjectsocial media-
dc.subjectwisdom of crowds-
dc.subjectinvestment advice-
dc.titleMonetary Incentive and Stock Opinions on Social Media-
dc.typeArticle-
dc.identifier.emailChen, H: chen19@hku.hk-
dc.identifier.authorityChen, H=rp02520-
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1080/07421222.2019.1598686-
dc.identifier.scopuseid_2-s2.0-85067350302-
dc.identifier.hkuros300702-
dc.identifier.volume36-
dc.identifier.issue2-
dc.identifier.spage391-
dc.identifier.epage417-
dc.publisher.placeUnited States-
dc.identifier.ssrn2964503-

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