Capital Market Effects of Firm-Generated Social Media Messages

Despite the explosion of firm and investor use of social media (e.g. Twitter), academic interest in the potential capital market consequences of firms' social media usage has been very limited. This research project aims to investigate the capital market effects of firm-generated social media messages by conducting a series of cross-sectional regressions and event studies to analyze the "tweets" (i.e. messages on Twitter) of 500 randomly selected listed European companies.

Keywords:SOCIAL MEDIA, CAPITAL MARKETS, INFORMATION ASYMMETRY, DISCLOSURE

Disciplines:Applied economics, Business administration and accounting