Wesley R. Gray
Drexel University - LeBow College of Business; Empirical Finance, LLC
Andrew E. Kern
University of Missouri - Trulaske College of Business
Abstract
We study how professional investors use social networks to impound price-relevant information into asset prices. Exploiting novel data from an online social network that facilitates information sharing among fund managers, we find that long (short) recommendations released into the private network generate cumulative abnormal returns of 3.61% (-4.90%) over a twenty-day window. These results suggest that social networks play a direct role in facilitating the price discovery process.
H/T Empirical Finance Blog where you can find some discussion.
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This degree is designed to give expertise in both “conventional” and Islamic finance. It provides students with a thorough understanding of the
similarities and differences between these approaches 