IDEAS home Printed from https://ideas.repec.org/a/bla/acctfi/v64y2024is1p4885-4913.html
   My bibliography  Save this article

Blockchain technology, social media sentiment and stock price

Author

Listed:
  • Li Wenyi
  • Ni Jun
  • Rong Mengjie

Abstract

We investigate the impact of the announcements by firms to adopt blockchain technology on stock prices and the different characteristics of stock prices under different types of blockchain technologies. Simultaneously, we propose two impact mechanisms: one is investor sentiment, and the other is the firm's governance of social media. We find that the firm's stock price has shown an increasing trend since the release of the announcement of the adoption of blockchain technology. At the same time, firms engaged in blockchain research, development and investment, and that simultaneously deploy other financial technologies, as well as firms that deploy blockchain technology for non‐speculative purposes, have better stock prices. In addition, the layout of a firm's blockchain may affect its stock price by influencing investor sentiment and public opinion.

Suggested Citation

  • Li Wenyi & Ni Jun & Rong Mengjie, 2024. "Blockchain technology, social media sentiment and stock price," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(S1), pages 4885-4913, December.
    • Handle: RePEc:bla:acctfi:v:64:y:2024:i:s1:p:4885-4913
    DOI: 10.1111/acfi.13273
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/acfi.13273
    Download Restriction: no
    File URL: https://libkey.io/10.1111/acfi.13273?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:acctfi:v:64:y:2024:i:s1:p:4885-4913. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/aaanzea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.