Difference between revisions of "Impact of Wikipedia on Market Information Environment: Evidence on Management Disclosure and Investor Reaction"
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| + | | title = Impact of Wikipedia on Market Information Environment: Evidence on Management Disclosure and Investor Reaction | ||
| + | | date = 2013 | ||
| + | | authors = [[Sean Xin Xu]]<br />[[Xiaoquan Zhang]] | ||
| + | | doi = 10.25300/MISQ/2013/37.4.03 | ||
| + | | link = http://dl.acm.org/citation.cfm?id=2600484 | ||
| + | }} | ||
'''Impact of Wikipedia on Market Information Environment: Evidence on Management Disclosure and Investor Reaction''' - scientific work related to [[Wikipedia quality]] published in 2013, written by [[Sean Xin Xu]] and [[Xiaoquan Zhang]]. | '''Impact of Wikipedia on Market Information Environment: Evidence on Management Disclosure and Investor Reaction''' - scientific work related to [[Wikipedia quality]] published in 2013, written by [[Sean Xin Xu]] and [[Xiaoquan Zhang]]. | ||
== Overview == | == Overview == | ||
In this paper, authors seek to determine whether a typical social media platform, [[Wikipedia]], improves the information environment for investors in the financial market. Authors theoretical lens leads us to expect that information aggregation about public companies on Wikipedia may influence how management's voluntary information disclosure reacts to market uncertainty with respect to investors' information about these companies. Authors empirical analysis is based on a unique data set collected from financial records, management disclosure records, news article coverage, and a Wikipedia modification history of public companies. On the supply side of information, authors find that information aggregation on Wikipedia can moderate the timing of managers' voluntary disclosure of companies' earnings disappointments, or bad news. On the demand side of information, authors find that Wikipedia's information aggregation moderates investors' negative reaction to bad news. Taken together, these findings support the view that Wikipedia improves the information environment in the financial market and underscore the value of information aggregation through the use of information technology. | In this paper, authors seek to determine whether a typical social media platform, [[Wikipedia]], improves the information environment for investors in the financial market. Authors theoretical lens leads us to expect that information aggregation about public companies on Wikipedia may influence how management's voluntary information disclosure reacts to market uncertainty with respect to investors' information about these companies. Authors empirical analysis is based on a unique data set collected from financial records, management disclosure records, news article coverage, and a Wikipedia modification history of public companies. On the supply side of information, authors find that information aggregation on Wikipedia can moderate the timing of managers' voluntary disclosure of companies' earnings disappointments, or bad news. On the demand side of information, authors find that Wikipedia's information aggregation moderates investors' negative reaction to bad news. Taken together, these findings support the view that Wikipedia improves the information environment in the financial market and underscore the value of information aggregation through the use of information technology. | ||
Revision as of 11:21, 16 November 2019
Authors | Sean Xin Xu Xiaoquan Zhang |
|---|---|
Publication date | 2013 |
DOI | 10.25300/MISQ/2013/37.4.03 |
Links | Original |
Impact of Wikipedia on Market Information Environment: Evidence on Management Disclosure and Investor Reaction - scientific work related to Wikipedia quality published in 2013, written by Sean Xin Xu and Xiaoquan Zhang.
Overview
In this paper, authors seek to determine whether a typical social media platform, Wikipedia, improves the information environment for investors in the financial market. Authors theoretical lens leads us to expect that information aggregation about public companies on Wikipedia may influence how management's voluntary information disclosure reacts to market uncertainty with respect to investors' information about these companies. Authors empirical analysis is based on a unique data set collected from financial records, management disclosure records, news article coverage, and a Wikipedia modification history of public companies. On the supply side of information, authors find that information aggregation on Wikipedia can moderate the timing of managers' voluntary disclosure of companies' earnings disappointments, or bad news. On the demand side of information, authors find that Wikipedia's information aggregation moderates investors' negative reaction to bad news. Taken together, these findings support the view that Wikipedia improves the information environment in the financial market and underscore the value of information aggregation through the use of information technology.
