This paper studies how the voice of retail investors influences corporate innovation. Examining the relation between postings on Internet stock message boards and firms’ innovation output, we find that individual investors’ online discussions can promote innovation. To establish causality,...

Investor recognition affects cross-sectional stock returns. In informationally incomplete markets, investors have limited recognition of all securities, and their holding of stocks with low recognition requires compensation for being imperfectly diversified. Using the number of posts on the...

Purpose – The purpose of this paper is to explore social media’s impact on organizational knowledge quality through the theoretical lens of social capital and resource exchange. Design/methodology/approach – Theory-confirming, quantitative study using panel data collected through web-based...