Information asymmetry on cryptocurrency trading: the spillover effect and quality of social sentiment
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Organización Internacional del Trabajo (OIT)
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| Format: | Memorias de congreso |
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International Labour Organization
09/08/2021
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| author | K. Kim Nabyla Daidj |
| author_facet | K. Kim Nabyla Daidj K. Kim Nabyla Daidj |
| contents | Information asymmetry on cryptocurrency trading: the spillover effect and quality of social sentiment K. Kim Nabyla Daidj International audience; This study examines whether social sentiment can influence information asymmetry in cryptocurrency markets, and if so, in what way and its qualitative effect? Using a data set on social sentiment by crawling Twitter and trading information on an exchange in Korea. We empirically study the linkage between social sentiment and asymmetric information in two cryptocurrency trading settings. Our results highlight the differentiated impact of positive and negative sentiment variance on information asymmetry according to 1) the spillover effects and 2) the leverage effect of social news characterizing social sentiment. However, the quality of the social sentiment related information is less valuable. Our findings contribute to the growing IS literature on the social media linked to Fintech as well as to the study of verifiability in the cryptocurrency market. publication.conferenceProceeding |
| format | Memorias de congreso |
| id | ilo_995353352702676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 09/08/2021 |
| publisher | International Labour Organization |
| spellingShingle | Information asymmetry on cryptocurrency trading: the spillover effect and quality of social sentiment K. Kim Nabyla Daidj Information asymmetry on cryptocurrency trading: the spillover effect and quality of social sentiment K. Kim Nabyla Daidj International audience; This study examines whether social sentiment can influence information asymmetry in cryptocurrency markets, and if so, in what way and its qualitative effect? Using a data set on social sentiment by crawling Twitter and trading information on an exchange in Korea. We empirically study the linkage between social sentiment and asymmetric information in two cryptocurrency trading settings. Our results highlight the differentiated impact of positive and negative sentiment variance on information asymmetry according to 1) the spillover effects and 2) the leverage effect of social news characterizing social sentiment. However, the quality of the social sentiment related information is less valuable. Our findings contribute to the growing IS literature on the social media linked to Fintech as well as to the study of verifiability in the cryptocurrency market. publication.conferenceProceeding |
| title | Information asymmetry on cryptocurrency trading: the spillover effect and quality of social sentiment |
| url | https://researchrepository.ilo.org/esploro/outputs/conferenceProceeding/Information-asymmetry-on-cryptocurrency-trading-the/995353352702676 |