The effect of twitter dissemination on cost of equity: A big data approach
作者：
Highlights：
• The study constructs a measure of firms’ dissemination of financial information by analyzing big data of firms’ tweets.
• Firms that disseminate financial information reduce the cost of equity.
• Financial information dissemination is stronger for less-visible-to-investors firms.
• News magnitude and content have not changed the findings.
• The results are robust to alternative measures and to more control variables.
摘要
•The study constructs a measure of firms’ dissemination of financial information by analyzing big data of firms’ tweets.•Firms that disseminate financial information reduce the cost of equity.•Financial information dissemination is stronger for less-visible-to-investors firms.•News magnitude and content have not changed the findings.•The results are robust to alternative measures and to more control variables.
论文关键词：Big data,Twitter,Dissemination,Disclosure,Cost of equity
论文评审过程：Received 7 December 2018, Revised 2 April 2019, Accepted 27 April 2019, Available online 6 May 2019, Version of Record 6 May 2019.
论文官网地址：https://doi.org/10.1016/j.ijinfomgt.2019.04.014
