This study investigates whether internet articles, such as blog or internet community posts, enhance investors’ ability to process uncertain news (i.e., rumors). Using the unique disclosure requirement in Korea, which verifies rumors by firms’ disclosures, we identify trading activities...

We examine the role of online freelance stock analysts in correcting mispricing of hard-to-value firms during sentiment-driven market periods. We analyze the tone of stock articles posted in SeekingAlpha.com. The analysis reveals that the degree of negative tone of their stock articles is...

This paper examines the role of financial statement comparability in shaping trading volume prior to earnings announcements. We find that the degree of delayed trading volume prior to earnings announcements is less pronounced for firms with more comparable financial statements. In addition, the...