Research on the influence of social media interaction on equity financing cost

DOI

10.2991/978-94-6463-326-9_2How to use a DOI?

Keywords

Social media interaction; Equity financing cost; Equity liquidity

Abstract

This article takes 2011–2018 Chinese A-share listed companies in Shanghai and Shenzhen as a sample, using multiple regression methods to study whether social media interaction will have an impact on the equity financing costs of listed companies in my country. We use an abnormal earnings growth model to characterize the equity financing costs of listed companies, the total number of posts on the stock bar and the number of posts read on the stock bar to characterize social media interactions. Through research, it is found that under the conditions of controlling the beta coefficient, the book-to-market value ratio of listed companies, the asset-liability ratio, the largest shareholder’s shareholding ratio, the asset turnover rate, and the shareholding ratio of institutional investors, sample companies with better social media interactions have relatively low equity financing costs.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Tang Zhanghao
PY  - 2023
DA  - 2023/12/30
TI  - Research on the influence of social media interaction on equity financing cost
BT  - Proceedings of the 2023 3rd International Conference on Business Administration and Data Science (BADS 2023)
PB  - Atlantis Press
SP  - 4
EP  - 17
SN  - 2589-4900
UR  - https://doi.org/10.2991/978-94-6463-326-9_2
DO  - 10.2991/978-94-6463-326-9_2
ID  - Zhanghao2023
ER  -