所属栏目:资本市场/资产定价/2025/2025年第03期

Network through Social Media Connections
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发布日期:2024年10月19日 上次修订日期:2024年10月19日

摘要

Using text data from Reddit, we construct inter-firm linkages based on shared discussions and common authors on social media. We find that firms linked on social media have similar fundamentals characteristics. The positive predictability of the returns of their Reddit peer stocks on focal stocks’ future returns suggests a sluggish dissemination of information. Our findings show that social media activities capture the collective cognition of the public, effectively reflecting the financial network in an implicit way.
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张伟琛; 王槐鑫 Network through Social Media Connections (2024年10月19日) https://www.cfrn.com.cn/dzqk/detail/16014

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