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Value relevance of blog visibility

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Author Info

  • Hu, Nan
  • Liu, Ling
  • Tripathy, Arindam
  • Yao, Lee J.

Abstract

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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Bibliographic Info

Article provided by Elsevier in its journal Journal of Business Research.

Volume (Year): 64 (2011)
Issue (Month): 12 ()
Pages: 1361-1368

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Handle: RePEc:eee:jbrese:v:64:y:2011:i:12:p:1361-1368

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Web page: http://www.elsevier.com/locate/jbusres

Related research

Keywords: Blog visibility; Value relevance; Trading Volume; Word of Mouth communication WOM;

References

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