IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v64y2011i12p1361-1368.html
   My bibliography  Save this article

Value relevance of blog visibility

Author

Listed:
  • 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.

Suggested Citation

  • Hu, Nan & Liu, Ling & Tripathy, Arindam & Yao, Lee J., 2011. "Value relevance of blog visibility," Journal of Business Research, Elsevier, vol. 64(12), pages 1361-1368.
  • Handle: RePEc:eee:jbrese:v:64:y:2011:i:12:p:1361-1368
    DOI: 10.1016/j.jbusres.2010.12.025
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148296310002882
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Weinberg, Bruce D. & Davis, Lenita, 2005. "Exploring the WOW in online-auction feedback," Journal of Business Research, Elsevier, vol. 58(11), pages 1609-1621, November.
    2. Eyal Biyalogorsky & Eitan Gerstner & Barak Libai, 2001. "Customer Referral Management: Optimal Reward Programs," Marketing Science, INFORMS, vol. 20(1), pages 82-95, August.
    3. Hsu, Shih-Yun & Dehuang, Ning & Woodside, Arch G., 2009. "Storytelling research of consumers' self-reports of urban tourism experiences in China," Journal of Business Research, Elsevier, vol. 62(12), pages 1223-1254, December.
    4. Payne, Adrian & Storbacka, Kaj & Frow, Pennie & Knox, Simon, 2009. "Co-creating brands: Diagnosing and designing the relationship experience," Journal of Business Research, Elsevier, vol. 62(3), pages 379-389, March.
    5. Hernández, Blanca & Jiménez, Julio & Martín, M. José, 2010. "Customer behavior in electronic commerce: The moderating effect of e-purchasing experience," Journal of Business Research, Elsevier, vol. 63(9-10), pages 964-971, September.
    6. Bone, Paula Fitzgerald, 1995. "Word-of-mouth effects on short-term and long-term product judgments," Journal of Business Research, Elsevier, vol. 32(3), pages 213-223, March.
    7. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-438, July.
    8. Kent Daniel & David Hirshleifer & Avanidhar Subrahmanyam, 1998. "Investor Psychology and Security Market Under- and Overreactions," Journal of Finance, American Finance Association, vol. 53(6), pages 1839-1885, December.
    9. Gupta, Pranjal & Harris, Judy, 2010. "How e-WOM recommendations influence product consideration and quality of choice: A motivation to process information perspective," Journal of Business Research, Elsevier, vol. 63(9-10), pages 1041-1049, September.
    10. Tynan, Caroline & McKechnie, Sally & Chhuon, Celine, 2010. "Co-creating value for luxury brands," Journal of Business Research, Elsevier, vol. 63(11), pages 1156-1163, November.
    11. Terrance Odean, 1999. "Do Investors Trade Too Much?," American Economic Review, American Economic Association, vol. 89(5), pages 1279-1298, December.
    12. Brad M. Barber & Terrance Odean, 2008. "All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors," Review of Financial Studies, Society for Financial Studies, vol. 21(2), pages 785-818, April.
    13. Collins, Daniel W. & Maydew, Edward L. & Weiss, Ira S., 1997. "Changes in the value-relevance of earnings and book values over the past forty years," Journal of Accounting and Economics, Elsevier, vol. 24(1), pages 39-67, December.
    14. Dann, Stephen, 2010. "Redefining social marketing with contemporary commercial marketing definitions," Journal of Business Research, Elsevier, vol. 63(2), pages 147-153, February.
    15. Brown, Jacqueline Johnson & Reingen, Peter H, 1987. " Social Ties and Word-of-Mouth Referral Behavior," Journal of Consumer Research, Oxford University Press, vol. 14(3), pages 350-362, December.
    16. Ho, Jason Y.C. & Dempsey, Melanie, 2010. "Viral marketing: Motivations to forward online content," Journal of Business Research, Elsevier, vol. 63(9-10), pages 1000-1006, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:eee:phsmap:v:486:y:2017:i:c:p:535-541 is not listed on IDEAS

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:64:y:2011:i:12:p:1361-1368. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.