The economic consequences of corporate financial reporting on Twitter

Xiong, Feng, Prasad, Acklesh, & Chapple, Larelle June (2016) The economic consequences of corporate financial reporting on Twitter. In 7th Conference on Financial Markets and Corporate Governance Conference, 31 March - 1 April 2016, Melbourne, Vic.

Abstract

The use of social media has spread into many different areas including marketing, customer service, and corporate disclosure. However, our understanding of the timely effect of financial reporting information on Twitter is still limited. In this paper, we examine the timely effect of financial reporting information on Twitter in the Australian context, as reflected in the follow-up stock market reaction. With the use of event methodology and comparative setting, we find that financial reporting disclosure on Twitter reduces the information asymmetry level. This is evidenced by reduction of bid-ask spread and increase of share trading volume. The results of this study imply that financial reporting disclosure on social media assists the dissemination of information and the stock market response to this information

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ID Code: 93196
Item Type: Conference Paper
Refereed: Yes
Additional URLs:
Keywords: corporate disclosure, news events, financial reporting
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Deposited On: 24 Feb 2016 03:23
Last Modified: 01 Apr 2016 07:15

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