Impact of social metrics in decentralized finance

Juan Piñeiro-Chousa, Aleksandar Šević and Isaac González-López

Journal of Business Research, 2023, vol. 158, issue C

Abstract: In our study, we have evaluated the impact of tweets, social indicators, uncertainty, and attention indices on the selected variables calculated from a pool of 51 decentralised finance entities. In so doing, we have identified some evidence that returns are impacted by tweets, but not by social indicators that appear to be more relevant for volatility. We have further confirmed that the S&P500 Index negatively influences cryptocurrency returns, which means that these two asset classes are substitutes. Uncertainty and attention indices are relevant in determining returns and the alternative measurement of volatility. However, they remain insignificant for illiquidity and our initial volatility choice.

Keywords: Decentralized Finance; DeFi; Cryptocurrencies; User-generated content; Investor attention; Twitter; Social indicators; Uncertainty (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:158:y:2023:i:c:s0148296323000310

DOI: 10.1016/j.jbusres.2023.113673

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