Social media sentiment, tariffs, and international equity pricing

Jesus Carmona, Natalya Delcoure and Francisco Haces Fernandez

International Journal of Electronic Finance, 2020, vol. 10, issue 1/2, 93-115

Abstract: Previous research has evaluated the impact of social media on financial market performance. This research investigates the imposition of Trump's trade tariffs and sentiments of President Trump's trade tariff-related tweets on international equity using exchange-traded funds (ETFs). We document that tweets move international equity prices, affect their volatility, and draw market attention. In addition, the impact of Twitter - a social media outlet allowing users to curate information, update followers, and report news in real time to a wide audience - is a function of event randomness, tweets' novelty, and whether an 'influencer' uses this channel of communication to post relevant tweets.

Keywords: social media; tariffs; international equity pricing; exchange-traded funds; ETFs; sentiment analysis; event study methodology. (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijelfi:v:10:y:2020:i:1/2:p:93-115

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