Publication Type
Journal Article
Version
publishedVersion
Publication Date
12-2011
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.
Keywords
Blog visibility, Value relevance, Trading Volume, Word of Mouth communication WOM
Discipline
Communication Technology and New Media | Computer Sciences | Technology and Innovation
Research Areas
Information Systems and Management
Publication
Journal of Business Research
Volume
64
Issue
12
First Page
1361
Last Page
1368
ISSN
0148-2963
Identifier
10.1016/j.jbusres.2010.12.025
Publisher
Elsevier
Citation
HU, Nan; LIU, Ling; Tripathy, Arindam; and YAO, Lee J..
Value relevance of blog visibility. (2011). Journal of Business Research. 64, (12), 1361-1368.
Available at: https://ink.library.smu.edu.sg/sis_research/1355
Copyright Owner and License
Publisher
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1016/j.jbusres.2010.12.025
Included in
Communication Technology and New Media Commons, Computer Sciences Commons, Technology and Innovation Commons