Fostering the future of finance
through conversations and collaborations
between academics and practitioners.
Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Session 2.23: Social Media Credibility and Financial Market Activity
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| Presentations | ||
Social Media Credibility and Financial Market Activity 1: Roger Williams University, United States of America; 2: University of Texas at Arlington We explore how stock price reactions to Twitter (now known as X) posts are associated with the perceived credibility of social media users making the posts. We introduce new credibility metrics based on the sender and the content of Twitter posts. Less credible tweets influence prices through a transient liquidity effect, while more credible tweets lead to a persistent information effect. Our results support the Elaboration Likelihood Model by demonstrating that the direct route of persuasion (represented by post credibility) is larger in magnitude and more persistent over time than the peripheral route of persuasion (represented by sender credibility). | ||