Crowdfunding is an increasingly popular way to raise emergency funding after disasters. However, for victims of a recent major Colorado wildfire, we find that crowdfunding raised more support for high income and prime credit beneficiaries rather than helping the most vulnerable. Specifically,...

This paper examines the recent emergence of AI-powered chatbots such as ChatGPT through the lens of the Cognitive Mediation Networks Theory (CMNT), deducing that the introduction of this radically new technology will likely create a new stage of collective cognitive functioning, called...

We model the influence of network effects on an entrepreneur's decision to pursue an IPO or exit via an asset sale. Our model shows that strong network externalities (in the entrepreneur's product) make an asset sale a more attractive exit strategy. This effect requires that there is a potential...

This study examines the role of exposure to different beliefs and opinions in the decision making of institutional investors. We exploit geographic variation in social media connections and political ideologies to identify plausible variation in the extent to which institutional investors...

To provide insight into how CEOs aggregate information from different sources to accurately forecast earnings, we examine the relation between CEO network size and management forecast accuracy. We find a negative relation between the size of the CEO’s network and management forecast error and...

We study how bankers affect financial decisions of their social connections. Comprehensive register data from Finland allow us to use a within-individual identification strategy that leverages changes in financial market participation surrounding job switches to the banking industry. This...

In this paper, I examine the influence of social connections of SPAC sponsors on the fundraising and target-search process, and I then examine how these connections relate to target quality. I show that SPACs that are managed by well-connected sponsors are able to raise more capital through IPOs...

Information production from investment social networks around earnings announcements matters to price efficiency. Social networks' content is excessively optimistic and associated with buying pressure before announcements. Such pressure deviates prices away from fundamentals before negative news...

We show that the social capital embedded in employees' networks contributes to firm performance. Using novel, individual-level network data, we measure a firm's social capital derived from employees' connections with external stakeholders. Our directed network data allow for differentiating...

Social networking sites engage millions of users around the world. The users interactions with these social sites, such as Twitter and Facebook have a tremendous impact and occasionally undesirable repercussions for the daily life. The prominent social networking sites have turned into a target...