Video-based social media and stock price crash risk: Evidence from YouTube

被引：0
|
作者：
Jung, Woojune [1 ]
Ahn, Hyejin [1 ]
机构：
[1] Hongik Univ, Coll Business Adm, 94 Wawoosan Ro, Seoul 04066, South Korea
来源：
ECONOMICS LETTERS | 2025年 / 249卷
关键词：
YouTube; Social media; Stock price crash risk; Stock market; Information asymmetry; LIQUIDITY;
D O I：
10.1016/j.econlet.2024.112099
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study examines whether video-based social media influences stock price crash risk. Using YouTube data regarding Korean listed companies' stocks from 2014 to 2022, we find that the number of YouTube videos related with the stock is negatively associated with stock price crash risk, with this effect being more pronounced in the post-COVID-19 period. The results reveal that YouTube videos conduct informational and disciplinary role, and thus reduce excessive negative market reactions. Additionally, the negative relation between the number of YouTube videos and stock price crash risk is more pronounced for firms with high information asymmetry. Overall, this study provides evidence that YouTube functions as an important platform for providing and sharing information regarding the stock market.
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页数：5
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