Value relevance of blog visibility

Nan Hu, Ling Liu, Arindam Tripathy and Lee Yao

Journal of Business Research, 2011, vol. 64, issue 12, 1361-1368

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 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:64:y:2011:i:12:p:1361-1368

DOI: 10.1016/j.jbusres.2010.12.025

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