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From The Digital Divide To Inclusive Innovation: The Case Of Digital Money, Mark Dodgson, David Gann, Irving Wladawsky-Berger, Gerard George
From The Digital Divide To Inclusive Innovation: The Case Of Digital Money, Mark Dodgson, David Gann, Irving Wladawsky-Berger, Gerard George
Research Collection Lee Kong Chian School Of Business
This report is concerned with a profoundly transformative technology, one that affects a crucial element of the fabric of society. It examines digital money, a technology that moves economic transactions, payments, remittances, transfers etc, from the physical into the digital world. Just as communications and publishing have been transformed by digital technologies, so too will financial services. The progress of digital money will inevitably surprise us and it will develop in unexpected ways, but we believe it is on the cusp of delivering a remarkable transformation in the global economy. It will end the divide between those who can and …
Not All That Glitters Is Gold: The Effect Of Attention And Blogs On The Investors' Investing Behaviors, Nan Hu, Yi Dong, Ling Liu, Lee J. Yao
Not All That Glitters Is Gold: The Effect Of Attention And Blogs On The Investors' Investing Behaviors, Nan Hu, Yi Dong, Ling Liu, Lee J. Yao
Research Collection School Of Computing and Information Systems
This article investigates the relationship between a firm’s visibility in blogspaces, termed blog exposure, and the cross-sectional stock returns. We show that blog exposure is fundamentally different from the traditional media coverage, and securities with low blog exposure earn higher returns than stocks with high blog exposure. We further illustrate that such an effect is more prominent for stocks with low institutional ownership. Contrary to traditional media coverage, the return premium associated with blog exposure cannot be explained by either the illiquidity hypothesis or the investor recognition hypothesis based on the rational-agent framework. Instead, our results suggest that blog effect …