UM
Residential Collegefalse
Status即將出版Forthcoming
Do cryptocurrency markets react to issuer sentiments? Evidence from Twitter
Zhang, Jiahang1; Zhang, Chi2
2022-10
Source PublicationResearch in International Business and Finance
ABS Journal Level2
ISSN0275-5319
Volume61
Abstract

Researchers and practitioners increasingly use posts on Twitter as an additional source of information to analyze cryptocurrency price movements. Previous studies that focus on the stock markets have shown that corporate sentiment disclosure impacts stock returns and trading volume. This study explores the reaction of the cryptocurrency market to the Twitter sentiments of issuers. It is found that cryptocurrency prices react positively to Twitter sentiments, while the trading volume reacts positively to the absolute value of the Twitter sentiments in a timely manner (within a period of 24 h). Further analysis in this study reveals that the market reactions are mainly driven by the incremental change in sentiments found in Twitter posts. This study sheds light on the trading behavior of investors in the cryptocurrency markets.

KeywordCryptocurrency Market Issuer Sentiment Trading Volume
DOI10.1016/j.ribaf.2022.101656
URLView the original
Indexed BySSCI
Language英語English
WOS Research AreaBusiness & Economics
WOS SubjectBusiness, Finance
WOS IDWOS:000805435500021
Scopus ID2-s2.0-85128990785
Fulltext Access
Citation statistics
Cited Times [WOS]:2   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionUniversity of Macau
Corresponding AuthorZhang, Jiahang
Affiliation1.HKU Business School, The University of Hong Kong, Hong Kong
2.Faculty of Business Administration, University of Macau, China
Recommended Citation
GB/T 7714
Zhang, Jiahang,Zhang, Chi. Do cryptocurrency markets react to issuer sentiments? Evidence from Twitter[J]. Research in International Business and Finance,2022,61.
APA Zhang, Jiahang,&Zhang, Chi.(2022).Do cryptocurrency markets react to issuer sentiments? Evidence from Twitter.Research in International Business and Finance,61.
MLA Zhang, Jiahang,et al."Do cryptocurrency markets react to issuer sentiments? Evidence from Twitter".Research in International Business and Finance 61(2022).
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