This paper investigates the impact of social media on financial reporting quality. By analyzing data from the leading Internet stock message board in China, we demonstrate that postings on stock message boards could promote earnings management. This finding is further enhanced by employing the...

We construct a model to capture the Keynesian idea that production and employment decisions are based on expectations of aggregate demand driven by sentiments, and that realized demand follows from the production and employment decisions of firms. We cast the Keynesian idea into a simple model...

A number of studies have investigated the predictability of Chinese stock returns with economic variables. Given the newly emerged dataset from the Internet, this paper investigates whether the Baidu Index can be employed to predict Chinese stock returns. The empirical results show that 1) the...

This paper incorporates the Baidu Index into various heterogeneous autoregressive type time series models and shows that the Baidu Index is a superior predictor of realized volatility in the SSE 50 Index. Furthermore, the predictability of the Baidu Index is found to rise as the forecasting...

A number of studies have investigated the predictability of Chinese stock returns with economic variables. Given the newly emerged dataset from the Internet, this paper investigates whether the Baidu Index can be employed to predict Chinese stock returns. The empirical results show that 1) the...

This paper incorporates the Baidu Index into various heterogeneous autoregressive type time series models and shows that the Baidu Index is a superior predictor of realized volatility in the SSE 50 Index. Furthermore, the predictability of the Baidu Index is found to rise as the forecasting...

We assess the dynamics of the cryptocurrency liquidity pools at the heart of Decentralised Finance (DeFi). We distinguish between liquidity provision and liquidity demand, and show that yields, rather than risks, are the primary factor in determining liquidity provision to these pools. While,...

We assess the dynamics of the cryptocurrency liquidity pools at the heart of Decentralised Finance (DeFi). We distinguish between liquidity provision and liquidity demand, and show that yields, rather than risks, are the primary factor in determining liquidity provision to these pools. While,...