Stock Message Boards: A Quantitative Approach to Measuring Investor Sentiment

by Y. Zhang

Overview

Sk Message Boards provides empirical data to reveal how online communication not only impacts sk returns, but also volatility, trading volume, and liquidity, as well as an investing firm's value and reputation.

Product Details

ISBN-13:	9781349476855
Publisher:	Palgrave Macmillan US
Publication date:	12/04/2014
Edition description:	1st ed. 2014
Pages:	295
Product dimensions:	5.51(w) x 8.50(h) x (d)

About the Author

Dr. Ying Zhang holds a B.S. in Finance, a M.S. in Information System Management and a Ph.D. in Finance. His research focuses in the areas of behavioral finance, investments, and real estate. He has published articles in several finance and real estate journals, such as Journal of Banking & Finance, the Financial Review, Journal of Financial Research, and Journal of Real Estate Finance and Economics.

Table of Contents

1. Why Pay Attention to Sk Message Boards? 2. A Variety of Sk Message Boards 3. About Sk Message Board Posters 4. Why Do People Post Messages on Sk Message Boards? 5. Modeling the Value of a Sk Message Board 6. How to Measure Sk Message Boards' Activities 7. Patterns in Sk Message Board Posting Activities 8. Online Talk: Does It Matter at All? 9. Trading Strategies Based on Sk Message Board Information 10. Legal Issues Associated with Sk Message Board Posting 11. Whisperers Versus Analysts and Implications for Market Efficiency 12. Alternative Information on the Internet 13. Implications of Sk Message Boards 14. The Future of Sk Message Boards 15. Literature Review for Sk Message Board Studies

Editorial Reviews

"Long overdue, Zhang's Stock Message Boards provides a consistent, comprehensive and analytical analysis of the functioning of stock message boards and their impact on financial asset pricing. Despite recent growth in interest of social media's input into pricing, most previous work has not been rigorous or comprehensive. Stock Message Boards clearly establishes the need for and benefit of thorough quantitative measurement and analysis of stock message boards and their operational effects." - Peggy E. Swanson, Professor Emeritus, University of Texas at Arlington, USA

"In finance, information is king. The internet has led to the democratization and rapid release of investor opinion. In Stock Message Boards, Zhang carefully discusses the different market participants and delineates between announcements that are news and noise. The book is an invaluable read for the retail investor, especially for those who invest in small cap and penny stocks." - Steve Swidler, J. Stanley Mackin Professor of Finance, Auburn University, USA

"Stock Message Boards is a timely and invaluable resource for anyone interested in the stock market. Zhang helps readers navigate through the maze of social media terminology and practices, captivating the reader with stories of soaring and plunging stock prices brought on by message board activities. Zhang demonstrates the long-term value of stock market message boards using simple mathematics to show readers how to measure and evaluate message board activities. This book is a must read for stock market practitioners, scholars, and policymakers, especially during the current era of social media." - Larry Lockwood, Stan Block Endowed Chair in Finance, Texas Christian University, USA

From the Publisher