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Glucksman Fellowship Program Student Research Reports >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/2451/25970
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| Title: | Internet Message Board Activity and Market Efficiency: A Case Study of
the Internet Service Sector Using RagingBull.Com |
| Authors: | Tumarkin, Robert M. |
| Issue Date: | 2000 |
| Series/Report no.: | GLUCKSMAN-2000-1 |
| Abstract: | This paper examines the relationships between internet message-board
activity and abnormal stock returns and between internet message-board
activity and abnormal trading volume.This study focuses on
RagingBull.com and internet service sector stocks. I choose
RagingBull.com because its format enables me to measure investor opinion
objectively. I find that on days with abnormally high message activity
changes in investor opinion correlate with with abnormal
industry-adjusted returns. Additionally, days with abnormally high
message activity coincide with abnormally high trading volume both that
day and the following day. However, I find that, in general,
message-board activity does not predict industry-adjusted returns or
abnormal trading volume. |
| URI: | http://hdl.handle.net/2451/25970 |
| Appears in Collections: | Glucksman Fellowship Program Student Research Reports
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