{"id":"https://openalex.org/W3141542372","doi":"https://doi.org/10.2308/isys-2020-034","title":"Is User-Generated Twittersphere Activity Associated with Stock Market Reactions to 8-K Filings?","display_name":"Is User-Generated Twittersphere Activity Associated with Stock Market Reactions to 8-K Filings?","publication_year":2021,"publication_date":"2021-04-01","ids":{"openalex":"https://openalex.org/W3141542372","doi":"https://doi.org/10.2308/isys-2020-034","mag":"3141542372"},"language":"en","primary_location":{"id":"doi:10.2308/isys-2020-034","is_oa":false,"landing_page_url":"https://doi.org/10.2308/isys-2020-034","pdf_url":null,"source":{"id":"https://openalex.org/S82262387","display_name":"Journal of Information Systems","issn_l":"0888-7985","issn":["0888-7985","1558-7959"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310316290","host_organization_name":"American Accounting Association","host_organization_lineage":["https://openalex.org/P4310316290"],"host_organization_lineage_names":["American Accounting Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Information Systems","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5063194122","display_name":"Roger Debreceny","orcid":"https://orcid.org/0000-0002-1526-4899"},"institutions":[{"id":"https://openalex.org/I117965899","display_name":"University of Hawai\u02bbi at M\u0101noa","ror":"https://ror.org/01wspgy28","country_code":"US","type":"education","lineage":["https://openalex.org/I117965899"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Roger S. Debreceny","raw_affiliation_strings":["University of Hawaii at Manoa"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Hawaii at Manoa","institution_ids":["https://openalex.org/I117965899"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5103214818","display_name":"Asheq Rahman","orcid":"https://orcid.org/0000-0002-3245-4512"},"institutions":[{"id":"https://openalex.org/I39854758","display_name":"Auckland University of Technology","ror":"https://ror.org/01zvqw119","country_code":"NZ","type":"education","lineage":["https://openalex.org/I39854758"]}],"countries":["NZ"],"is_corresponding":false,"raw_author_name":"Asheq Rahman","raw_affiliation_strings":["Auckland University of Technology"],"raw_orcid":"https://orcid.org/0000-0002-3245-4512","affiliations":[{"raw_affiliation_string":"Auckland University of Technology","institution_ids":["https://openalex.org/I39854758"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5033868166","display_name":"Tawei Wang","orcid":"https://orcid.org/0000-0002-4755-3652"},"institutions":[{"id":"https://openalex.org/I118353179","display_name":"DePaul University","ror":"https://ror.org/04xtx5t16","country_code":"US","type":"education","lineage":["https://openalex.org/I118353179"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Tawei Wang","raw_affiliation_strings":["DePaul University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"DePaul University","institution_ids":["https://openalex.org/I118353179"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.0163,"has_fulltext":false,"cited_by_count":14,"citation_normalized_percentile":{"value":0.87456043,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"35","issue":"2","first_page":"195","last_page":"217"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9984999895095825,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9984999895095825,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.9962000250816345,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11326","display_name":"Stock Market Forecasting Methods","score":0.9957000017166138,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/market-liquidity","display_name":"Market liquidity","score":0.7259042859077454},{"id":"https://openalex.org/keywords/valuation","display_name":"Valuation (finance)","score":0.6577314138412476},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.5857080221176147},{"id":"https://openalex.org/keywords/stock","display_name":"Stock (firearms)","score":0.5447174310684204},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"Information asymmetry","score":0.46004605293273926},{"id":"https://openalex.org/keywords/stock-market","display_name":"Stock market","score":0.45834681391716003},{"id":"https://openalex.org/keywords/monetary-economics","display_name":"Monetary economics","score":0.44723135232925415},{"id":"https://openalex.org/keywords/sample","display_name":"Sample (material)","score":0.43223702907562256},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.35448503494262695},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.3240196108818054},{"id":"https://openalex.org/keywords/accounting","display_name":"Accounting","score":0.2505333423614502},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.1851896345615387}],"concepts":[{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.7259042859077454},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.6577314138412476},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5857080221176147},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5447174310684204},{"id":"https://openalex.org/C137577040","wikidata":"https://www.wikidata.org/wiki/Q431965","display_name":"Information asymmetry","level":2,"score":0.46004605293273926},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.45834681391716003},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.44723135232925415},{"id":"https://openalex.org/C198531522","wikidata":"https://www.wikidata.org/wiki/Q485146","display_name":"Sample (material)","level":2,"score":0.43223702907562256},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.35448503494262695},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3240196108818054},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.2505333423614502},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.1851896345615387},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C43617362","wikidata":"https://www.wikidata.org/wiki/Q170050","display_name":"Chromatography","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2308/isys-2020-034","is_oa":false,"landing_page_url":"https://doi.org/10.2308/isys-2020-034","pdf_url":null,"source":{"id":"https://openalex.org/S82262387","display_name":"Journal of Information Systems","issn_l":"0888-7985","issn":["0888-7985","1558-7959"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310316290","host_organization_name":"American Accounting Association","host_organization_lineage":["https://openalex.org/P4310316290"],"host_organization_lineage_names":["American Accounting Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Information Systems","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":59,"referenced_works":["https://openalex.org/W11897853","https://openalex.org/W40549020","https://openalex.org/W1528504087","https://openalex.org/W1555715885","https://openalex.org/W1568276906","https://openalex.org/W1593455549","https://openalex.org/W1602264236","https://openalex.org/W1930377193","https://openalex.org/W1993981983","https://openalex.org/W1999955566","https://openalex.org/W2010191348","https://openalex.org/W2018595902","https://openalex.org/W2019549672","https://openalex.org/W2059503205","https://openalex.org/W2061191770","https://openalex.org/W2068451972","https://openalex.org/W2078838966","https://openalex.org/W2099238550","https://openalex.org/W2100897439","https://openalex.org/W2102665218","https://openalex.org/W2119412165","https://openalex.org/W2130162792","https://openalex.org/W2146994378","https://openalex.org/W2160885508","https://openalex.org/W2162406943","https://openalex.org/W2167193407","https://openalex.org/W2171468534","https://openalex.org/W2277115990","https://openalex.org/W2304548144","https://openalex.org/W2312746530","https://openalex.org/W2333981896","https://openalex.org/W2618280408","https://openalex.org/W2762420902","https://openalex.org/W2887377477","https://openalex.org/W3121288170","https://openalex.org/W3121467893","https://openalex.org/W3122136669","https://openalex.org/W3122224215","https://openalex.org/W3122431760","https://openalex.org/W3122584415","https://openalex.org/W3122743006","https://openalex.org/W3122944446","https://openalex.org/W3123103903","https://openalex.org/W3123195209","https://openalex.org/W3123210894","https://openalex.org/W3123947178","https://openalex.org/W3124743426","https://openalex.org/W3124766520","https://openalex.org/W3124830097","https://openalex.org/W3125328076","https://openalex.org/W3125521553","https://openalex.org/W3125575827","https://openalex.org/W3125763527","https://openalex.org/W3125903987","https://openalex.org/W4255173720","https://openalex.org/W6614292718","https://openalex.org/W6635402876","https://openalex.org/W6679109501","https://openalex.org/W6822468148"],"related_works":["https://openalex.org/W4388132497","https://openalex.org/W3098610666","https://openalex.org/W1997199157","https://openalex.org/W3013597983","https://openalex.org/W3123074800","https://openalex.org/W4205692705","https://openalex.org/W2486784793","https://openalex.org/W3125641632","https://openalex.org/W3123984903","https://openalex.org/W2370669686"],"abstract_inverted_index":{"ABSTRACT":[0],"Prior":[1],"studies":[2],"have":[3,30,127],"demonstrated":[4],"that":[5,24,85],"company-generated":[6],"tweets":[7,26,59,65,90],"as":[8],"a":[9,44,112],"device":[10],"for":[11],"the":[12,36,40,52,64,67,96,116,123,132,136],"dissemination":[13],"of":[14,39,46,54,57,73,81,88,111],"corporate":[15,28],"announcements":[16,29],"help":[17],"reduce":[18],"information":[19,31,37],"asymmetry.":[20],"This":[21],"paper":[22],"demonstrates":[23],"user-generated":[25,58,89],"around":[27,122],"content":[32,38],"in":[33,63],"addition":[34],"to":[35],"announcement":[41],"itself.":[42],"Using":[43],"sample":[45],"S&amp;P":[47],"1500":[48],"firms,":[49],"we":[50],"test":[51],"effects":[53],"abnormal":[55,61,86,99,103],"levels":[56,87],"and":[60,79,101,135],"sentiment":[62,119],"over":[66],"three":[68],"days":[69],"surrounding":[70],"8-K":[71],"filings":[72],"unanticipated":[74],"events":[75],"on":[76],"market":[77,117],"returns":[78,100],"liquidity":[80,138],"stocks.":[82],"Results":[83],"show":[84],"are":[91],"positively":[92],"associated":[93],"with":[94],"both":[95,131],"absolute":[97],"cumulative":[98,102],"trading":[104],"volume.":[105],"We":[106],"also":[107],"find":[108],"an":[109],"indication":[110],"cautionary":[113],"stance":[114],"by":[115],"when":[118],"is":[120],"negative":[121],"announcements.":[124],"Our":[125],"results":[126],"economic":[128],"significance":[129],"from":[130],"stock":[133,137],"valuation":[134],"perspectives.":[139],"JEL":[140],"Classifications:":[141],"M41.":[142]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":1}],"updated_date":"2026-05-21T06:26:12.895304","created_date":"2025-10-10T00:00:00"}
