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).

 
Show MetadataAuthors
 
Session Overview
Session
Session 2.24: The Influence of Social Media Bots on Financial Markets
Time:
Wednesday, 27/Aug/2025:
5:00pm - 5:30pm

 Location: Carmen Conference hall

Meeting hall “Carmen”, which can accommodate up to 70 people

Show help for 'Increase or decrease the abstract text size'
Presentations

The Influence of Social Media Bots on Financial Markets

Prof. Mahnaz Paydarzarnaghi1, Prof. David Rakowski2

1Roger Williams University, United States of America; 2University of Texas at Arlington, United States of America

This study examines the effects of bot-generated social media content on stock market behavior.

We examine whether bots amplify or suppress the impact of social media on trading

activity and returns. Using data from Twitter (now X), covering 2019 to 2022, we construct

measures capturing the likelihood of bot activity in posts mentioning well-known stocks

using cashtags. Our findings show that bot activity reduces the impact of social media on

both trading volume and returns. Our results imply that investors have the ability to distinguish

between genuine and automated activity on social media and that genuine activity is

perceived as a more reliable source of financial information.