How should crowdfunding platforms alleviate information asymmetry between creators and crowdfunders? In traditional financial markets, public companies are required to disclose potential risks to their investors, and such risk disclosure requirements are enforced by legal and fiduciary...

Social media listening is the practice of collecting and analyzing user comments on social media in an effort to assess consumer sentiment surrounding a particular brand. In this research, we contribute to the social media listening research and propose a brand favorability measure, based on...

Topic modeling methods such as Latent Dirichlet Allocation (LDA) are powerful tools for analyzing massive amounts of textual data. They have been extensively used in information systems and management research to identify latent topics for data exploration and as a feature-engineering mechanism...

Chinese IPOs offer investors two potential lottery-like gains. One is huge first day returns as Chinese issuers leave more money on the table than other issuers and the other is that a particular IPO may go on to become the next Alibaba in the long run. Using a sample of 862 book-built Chinese...

This paper investigates whether prospect theory (PT) or a preference for lottery-like gains on stocks can explain the peculiarities of IPO returns in China. Chinese IPOs offer investors two potential lottery-like gains. One is potentially huge first day returns as Chinese issuers leave more...

Previous studies show that profitability does not improve after share issue privatization (SIP) in China. We explore the possibility that the positive privatization effect can be overwhelmed by a negative listing effect, leading to an overall negative or insignificant SIP profitability change....

Securities regulators in China occasionally suspend their IPO market. We explore the impact of IPO market suspension on IPO pricing. We find that IPOs interrupted by market suspensions are eventually priced at a higher level. The positive impact of IPO suspension on IPO offer price is more...

In the offline world, firms often benefit from responding to consumer complaints. However, the effect of responding to negative comments on social media in the online environment is unclear. A direct firm response may address the negative experience and reduce similar complaints, but such...