Audience Measurement Applications for Online Advertising and E-Commerce

2011 ◽  
pp. 190-233
Author(s):  
David Martin
Keyword(s):  
Stock Price ◽  
Online Advertising ◽  
Financial Analysts ◽  
New Economy ◽  
Price Rise ◽  
Press Releases ◽  
Audience Measurement ◽  
Dot Com

The idea of panel-based Internet audience measurement was a child of the late 1990s “dot-com” era, where financial analysts hinged predictions of stock price rise or ruin on Website rankings. Bold marketing schemes led to spikes in traffic to Websites, which in turn led to higher rankings and the potential for greater advertising revenues. Monthly rankings became as common a mention in company press releases as any other measure of revenue or profit. Despite the sudden and calamitous collapse of the “new economy” in the second quarter of 2000, Internet audience measurement remains a highly relevant industry.

scholarly journals Financial Markets’ Governance, Transparency and Informational Efficiency: Role of IfRS Norms, Auditors and Financial Analysts

2016 ◽  
Vol 9 (5) ◽  
pp. 100
Author(s):  
Imen Lamiri ◽  
Adel Boubaker
Keyword(s):  
Financial Markets ◽  
Stock Prices ◽  
Stock Price ◽  
Financial Analysts ◽  
Negative Relationship ◽  
Developed Countries ◽  
Coefficient Of Determination ◽  
Specific Information ◽  
Informational Efficiency

<p>This article explores the informational role of three essential modern financial markets actors such IFRS norms, the Big”4” and the financial analysts for a panel of emergent and developed countries during the period from 2001 to 2010. We hypothesis that these mechanisms help improving the quality of specific information incorporated into stock prices measured by the stock price synchronicity (SPS). The main result is that both financial analyst’s coverage and IFRS adoption's effects seem to be stronger for emerging than developed markets. The results also show a negative relationship between auditors’ opinion and coefficient of determination (R<sup>2</sup>).</p>

scholarly journals First to “Read” the News: News Analytics and Algorithmic Trading

2019 ◽  
Vol 10 (1) ◽  
pp. 122-178 ◽  
Author(s):  
Bastian von Beschwitz ◽  
Donald B Keim ◽  
Massimo Massa
Keyword(s):  
Stock Price ◽  
Trading Volume ◽  
Press Releases ◽  
Oxford University ◽  
Volume Response ◽  
Speed Up ◽  
Editorial Decision ◽  
Price Distortions ◽  
Published Paper ◽  
Identification Strategy

Abstract Exploiting a unique identification strategy based on inaccurate news analytics, we document an effect of news analytics on the market independent of the informational content of the news. We show that news analytics speed up the stock price and trading volume response to articles, but reduce liquidity. Inaccurate news analytics lead to small price distortions that are corrected quickly. The market impact of news analytics is greatest for press releases, as news analytics exhibit a particular skill in “seeing through” the positive spin of press releases. Furthermore, we provide evidence that high-frequency traders rely on the information from news analytics for directional trading on company-specific news. Received: May 17, 2018; Editorial decision: June 14, 2019 by Editor: Thierry Foucault. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.

Tone variation in financial news: A comparison of companies, journalists and financial analysts

2021 ◽  
pp. 026732312199952
Author(s):  
Irene Pollach ◽  
Lea Vindvad Hansen
Keyword(s):  
Financial Crisis ◽  
Financial Analysts ◽  
Empirical Support ◽  
Computer Assisted ◽  
Press Releases ◽  
Positivity Bias ◽  
Financial News ◽  
News Agencies ◽  
Before And After ◽  
Earnings Press Releases

This article reports the findings of a comparative study of the financial news produced by companies, financial analysts, financial newspapers and news agencies about the same news events, including data before and after the financial crisis. We ground this study in second-level agenda-setting, according to which news producers select substantive and evaluative attributes for the issues they cover. Using computer-assisted text analysis, we conduct pairwise comparisons of the evaluative tone of corporate quarterly earnings press releases and the corresponding analyst reports and news stories. Our overall hypothesis is that these actors produce news about the same events with an evaluative tone that furthers their own goals as well as the goals of those actors they are dependent on, which we find partial support for. We find a positivity bias in corporate earnings press releases and analyst reports, while financial journalists eliminate the corporate positivity bias, but do not add more negativity. The results also indicate differences in the tone of financial news before and after the financial crisis. Although all actors produce news in the period after the financial crisis that is less positive and less negative than before the crisis, the balance of positive and negative tone as well as relative differences among the actors suggest that news writing by financial journalists at financial newspapers and news agencies is more negative in tone after the financial crisis, thus providing also empirical support of their independence.

scholarly journals The Effect of KRX Halts on Overheated Short-selling Stocks

2020 ◽  
Vol 49 (5) ◽  
pp. 741-776
Author(s):  
Woo Baik Lee
Keyword(s):  
Information Asymmetry ◽  
Stock Price ◽  
Short Selling ◽  
Price Rise ◽  
Additional Increase ◽  
Short Sale ◽  
Significant Difference ◽  
Sample Data ◽  
Efficient Price ◽  
Unfair Trade

Korea Exchange (KRX) has adopted several measures to ease temporary overheating of short-selling stocks in the market since March 27, 2017. These measures aim to curb excessive volatility and unfair trade, promoting efficient price discovery. This study examines the effect of overheated short-selling halts using the sample data from these KRX measures during the period of September 2017 to October 2019. The major empirical results are: first, the drop in prices of overheated short-selling stocks on a downward trend slows significantly after KRX announcement. Moreover, the stock price rise on the triggering day shows no additional increase in the period after the trigger. Second, for the stocks so triggered, the volatility in the period after the halt announcement shows no significant difference from the pre-halt period. This can be attributed to the resolution of the information asymmetry by calling investors’ attention to overheated short-selling. Third, the ratio of short-selling to trading after halt suggests no statistically significant difference from the period before the trigger. These results imply that the measures to ease overheated short sale of stocks in KRX are effective in controlling excessive temporary volatility and unfair trading.

The Impact of Electronic Commerce Assurance on Financial Analysts' Earnings Forecasts and Stock Price Estimates (Retracted)

2000 ◽  
Vol 19 (s-1) ◽  
pp. 5-22 ◽  
Author(s):  
James E. Hunton ◽  
Tanya Benford ◽  
Vicky Arnold ◽  
Steve G. Sutton
Keyword(s):  
Electronic Commerce ◽  
Stock Price ◽  
Financial Analysts ◽  
Earnings Forecasts ◽  
Second Phase ◽  
Market Participants ◽  
Information Hypothesis ◽  
Risk Condition ◽  
The Impact ◽  
Significant Interaction Term

The objective of this study is to assess the impact of electronic commerce (EC) assurance on earnings forecasts and stock price estimates of financial analysts. The theoretical foundation of the current study is based on the information hypothesis (Fama and Laffer 1971; Wallace 1980), which supports the notion that EC assurance is a means of reducing information asymmetry and uncertainty for financial market participants. In the first phase of this study, a survey of 37 financial analysts indicates the importance of vendor- and outcome-based risk factors when forecasting the financial performance of firms engaged in EC. In the second phase, 87 analysts participate in a 2(high and low vendor-based risk)×2(high and low outcome-based risk) experiment. As hypothesized, EC assurance significantly increases earnings forecasts and stock price estimates in the high-risk, as compared to the low-risk, condition. In addition, a significant interaction term is obtained such that EC assurance yields a pronounced impact when both vendor- and outcome-based risks are high. The findings suggest that EC assurance reduces risk for market participants, thereby generating higher expectations of firm performance and value.

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