File Download
Supplementary
-
Citations:
- Appears in Collections:
Conference Paper: The speed of communication
| Title | The speed of communication |
|---|---|
| Authors | |
| Keywords | Word-of-Mouth Speed of Communication Household Investment |
| Issue Date | 2016 |
| Citation | The 14th Annual Conference of the China International Conference in Finance (CICF), Xiamen, China, 7-10 July 2016. How to Cite? |
| Abstract | Drawing from prior research on disease contagion, we estimate a transmission matrix to quantify the communication rate across investors, as well as how it varies with distances in social characteristics (such as age, income, and gender). In particular, exploiting cross-industry stock-financed mergers and acquisitions as a source of plausibly exogenous shocks to some investors’ portfolio composition and
consequently, their information gathering activity, we trace out the path of “contagion” from these directly impacted investors (“patient zero”) to their neighbors. Further, we link the speed of communication to various social characteristics; quantitatively, our estimates imply that a ten-year difference in age, a one-step difference in income, and having a different gender lower the communication rate by 12%, 14%, and 32%, respectively. |
| Persistent Identifier | http://hdl.handle.net/10722/233164 |
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Huang, S | - |
| dc.contributor.author | Hwang, BH | - |
| dc.contributor.author | Lou, D | - |
| dc.date.accessioned | 2016-09-20T05:34:58Z | - |
| dc.date.available | 2016-09-20T05:34:58Z | - |
| dc.date.issued | 2016 | - |
| dc.identifier.citation | The 14th Annual Conference of the China International Conference in Finance (CICF), Xiamen, China, 7-10 July 2016. | - |
| dc.identifier.uri | http://hdl.handle.net/10722/233164 | - |
| dc.description.abstract | Drawing from prior research on disease contagion, we estimate a transmission matrix to quantify the communication rate across investors, as well as how it varies with distances in social characteristics (such as age, income, and gender). In particular, exploiting cross-industry stock-financed mergers and acquisitions as a source of plausibly exogenous shocks to some investors’ portfolio composition and consequently, their information gathering activity, we trace out the path of “contagion” from these directly impacted investors (“patient zero”) to their neighbors. Further, we link the speed of communication to various social characteristics; quantitatively, our estimates imply that a ten-year difference in age, a one-step difference in income, and having a different gender lower the communication rate by 12%, 14%, and 32%, respectively. | - |
| dc.language | eng | - |
| dc.relation.ispartof | Annual Conference of the China International Conference in Finance, CICF 2016 | - |
| dc.relation.ispartof | 2016中国金融际年会 | - |
| dc.subject | Word-of-Mouth | - |
| dc.subject | Speed of Communication | - |
| dc.subject | Household Investment | - |
| dc.title | The speed of communication | - |
| dc.type | Conference_Paper | - |
| dc.identifier.email | Huang, S: huangsy@hku.hk | - |
| dc.identifier.authority | Huang, S=rp02052 | - |
| dc.description.nature | postprint | - |
| dc.identifier.hkuros | 263263 | - |