Financial Blogs and Information Asymmetry between Firm Insiders and Outsiders
نویسنده
چکیده
Online networks of investors, analysts, and the media have come to play a critical role in capital markets. I use the latest cybermetric tools from the social sciences to examine how important such virtual networks are—and particularly top financial blogs—in determining market efficiency and information asymmetry between insiders and outsiders. Paper prepared for presentation at the annual meeting of the American Accounting Association, August 3-6, 2008, Anaheim, CA. COM500 students: Please note that the content in this paper is derived from a recent poster presentation—it is not meant to represent the first draft of an article. Instead, read it for the ideas, theory, concepts, and methodologies contained herein. ∗ Thanks to Todd Enders and First Rain for supplying blogging and news data, and Veljko Fotak, Feng Gu, Shane Dikolli, and Samir Trabelsi for feedback and advice.
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