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最新個案
- A practical guide to SEC ï¬nancial reporting and disclosures for successful regulatory crowdfunding
- Quality shareholders versus transient investors: The alarming case of product recalls
- The Health Equity Accelerator at Boston Medical Center
- Monosha Biotech: Growth Challenges of a Social Enterprise Brand
- Assessing the Value of Unifying and De-duplicating Customer Data, Spreadsheet Supplement
- Building an AI First Snack Company: A Hands-on Generative AI Exercise, Data Supplement
- Building an AI First Snack Company: A Hands-on Generative AI Exercise
- Board Director Dilemmas: The Tradeoffs of Board Selection
- Barbie: Reviving a Cultural Icon at Mattel (Abridged)
- Happiness Capital: A Hundred-Year-Old Family Business's Quest to Create Happiness
When Crowds Are Not Wise: How Social Networks Impact Stock Prices
內容大綱
More than one third of new investors use social media to research investment advice. If such advice is independently produced by a variety of different contributors, it can benefit investors, because research shows that averaging independent judgments generally improves accuracy. This is known as 'the wisdom-of-the-crowd effect.' However, social media platforms disseminate information using engagement algorithms that are influenced by popularity bias. The authors share findings from their research, which reveals that information on social media displays excessive optimism about future outcomes on earnings announcements and leads to price run-ups.