‘Facebook and Twitter are basically analogous to the world’s largest bar,’ observes Neal Snow, a doctoral candidate at the University of South Florida’s School of Accountancy.
You don’t, for example, hear someone yell at a physical bar that Caterpillar has announced third quarter earnings. We wondered whether social media users would be any more interested in financial information.’
‘Advertising intended for consumers also draws the attention of investors to financial information,’ says Marina Niessner, assistant professor of finance at the Yale School of Management. ‘Our data provides causal evidence of an immediate spillover effect of product ads on investor attention and stock price.’