The Information Content of Recommended Stocks by the Social Media

Authors

  • Yaling Lin I-Shou University
  • Hsin-Yi Wang National Sun Yat-sen University
  • Shih-Chi Shen I-Shou University
  • Chih-Hsiung Chang I-Shou University
  • Jui-Chu Tien I-Shou University

DOI:

https://doi.org/10.33423/jabe.v21i4.2130

Keywords:

Social Media, Information Content, Recommended Stock, Event Study, Business, Economics, over-the-counter market, stock exchange market, Investors

Abstract

Social media has developed rapidly in recent years. Many stock analysts utilize social media such as Facebook, Line and other community platforms to disseminate information to investors. This research explores the information content of recommended stock through social media by event study. The empirical result shows that analysts cannot provide significant abnormal returns to investors for listed company at stock exchange market. However, investors can get a little profit by day-trading within two days for listed company at over-the-counter market.

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Published

2019-07-30

How to Cite

Lin, Y., Wang, H.-Y., Shen, S.-C., Chang, C.-H., & Tien, J.-C. (2019). The Information Content of Recommended Stocks by the Social Media. Journal of Applied Business and Economics, 21(4). https://doi.org/10.33423/jabe.v21i4.2130

Issue

Vol. 21 No. 4 (2019)

Section

Articles

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