The value of online investor relations under COVID-19: Evidence from investor interactive platforms in China

Xiaoqing Zhang

Finance Research Letters, 2023, vol. 56, issue C

Abstract: Using the COVID-19 crisis as a quasi-natural experiment, this study explores the value of online investor relations (OIR) on the official investor interactive platforms (IIPs). The results show that OIR are positively associated with stock returns during the crisis. This indicates that firms with high level of OIR are more immune to the COVID-19 shock and outperform in the period following the shock. Furthermore, the “value protection” effect of OIR is more obvious for firms located in non-Hubei and surrounding provinces, and those with low visibility, such as small-cap firms and young firms.

Keywords: Online investor relations; Individual investors; Investor interactive platforms; COVID-19; Cumulative abnormal return (search for similar items in EconPapers)
JEL-codes: G14 G15 G32 M41 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:56:y:2023:i:c:s1544612323005184

DOI: 10.1016/j.frl.2023.104146

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