...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Review of accounting studies >The internet as an information intermediary
【24h】

The internet as an information intermediary

机译：互联网作为信息中介

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

The internet is an enormous and growing source of information for investors about the opinions of others. Virtually any individual with internet access can express opinions about firms and editorialize about company news. However, to date we know very little about the impact these nontraditional internet intermediaries have on markets. We develop a framework wherein internet information intermediaries fall along a spectrum of professionalism and document a nuanced relationship between coverage by these intermediaries and capital market effects. Using a novel dataset that tracks coverage of companies by individuals posting on thousands of websites, we find that coverage by professional and semi-professional intermediaries is associated with positive capital market effects but coverage by nonprofessional internet intermediaries has the opposite effect-hindering price formation. The detrimental effects of nonprofessional coverage are observed most strongly when the intermediaries have larger audiences.
机译：对于投资者来说，互联网是一个巨大且不断增长的信息来源，可用于了解他人的观点。几乎任何具有Internet访问权限的个人都可以表达关于公司的意见并编辑公司新闻。但是，到目前为止，我们对这些非传统的互联网中介机构对市场的影响知之甚少。我们开发了一个框架，其中互联网信息中介机构属于专业领域，并记录了这些中介机构的覆盖范围与资本市场效应之间的细微关系。使用一个新颖的数据集来跟踪在数千个网站上发布的个人对公司的覆盖率，我们发现专业和半专业中介人的覆盖率与积极的资本市场效应相关，但非专业互联网中介人的覆盖率则阻碍了价格形成。当中介机构的受众较多时，最强烈地观察到非专业报道的有害影响。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号