Although the traditional sources of financial knowledge in Japan are financial advisors and investment groups, the digital era and artificial intelligence have made other sources of information, such as social media and mass media, more influential. As such, it has become important to examine...

We investigate the role of alumni ties in university endowments' decision to invest into private equity funds. Based on a sample of 1,590 commitments made by 189 U.S. endowments into 613 funds during the period of 1995 to 2017, we show that endowments are more likely to invest into funds that...

Social media has enabled retail investors to enter the market for information and both produce and consume information about investments. This study investigates how private investors' active involvement influences equity markets by following a high-profile Swedish court case whereby two...