Abstract
This article studies the influence of social media sentiment on stock prices, focusing on significant shifts by Eastman Kodak. Utilising a unique emotion-based lexicon, the research indicates that social media sentiment immediately reflects stock market responses to major corporate changes. The sentiment techniques used align with the timeline of Kodak's announcements. Excitement was found to have the greatest impact on Kodak's prices. However, emotions like anxiety, panic, and revulsion indicated a notable negative social media reaction. The study cautions against the potential volatility in the market when many investors react to the same dubious information. These findings emphasise the significance of adhering to legal and regulatory standards in corporate governance and advocate for transparency and accountability in policy-making for a more reliable financial system.
Original language | English |
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Article number | 102304 |
Journal | Research in International Business and Finance |
Volume | 70 |
Issue number | Part A |
Early online date | 2 Mar 2024 |
DOIs | |
Publication status | Published - 30 Jun 2024 |
Data Availability Statement
Data will be made available on request.Keywords
- Emotional sentiment
- Price efficiency
- Price response
- Social media
- Stock market
ASJC Scopus subject areas
- Business, Management and Accounting (miscellaneous)
- Finance