Value relevance of blog visibility

Value relevance of blog visibility

This study empirically examines the effect of a non-traditional information source, namely a firm's blog visibility on the capital market valuation of firms. After controlling for earnings, book value of equity and other value relevant variables, such as traditional media exposure, R&D spen...

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Bibliographic Details
Main Authors: HU, Nan, LIU, Ling, Tripathy, Arindam, YAO, Lee J.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2011
Subjects:
Blog visibility
Value relevance
Trading Volume
Word of Mouth communication WOM
Communication Technology and New Media
Computer Sciences
Technology and Innovation
Online Access:https://ink.library.smu.edu.sg/sis_research/1355
https://ink.library.smu.edu.sg/context/sis_research/article/2354/viewcontent/Value_Rel_Blog_pv.pdf
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Institution: Singapore Management University
Language: English
Description
Summary:This study empirically examines the effect of a non-traditional information source, namely a firm's blog visibility on the capital market valuation of firms. After controlling for earnings, book value of equity and other value relevant variables, such as traditional media exposure, R&D spending, and advertising expense, we find a positive association between a firm's blog visibility and its capital market valuation. In addition, we find blog visibility Grange causes trading, not vice versa. Our findings indicate that non-traditional information sources such as blogs help disseminate information and influence consumers' investment decisions by capturing their attention.

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