14:00 - 15:30
Professor Lin Peng, Baruch College, City University of New York
Lectures, talks and seminars
Essex Finance Centre (EFiC) Research Seminar Series
Essex Finance Centre
Dr Anna Sarkisyan firstname.lastname@example.org
The Essex Finance Centre (EFiC) warmly invites you to join the research seminar with Professor Lin Peng from City University of New York.
We study how the social transmission of public news influences investors' beliefs and securities markets. Using an extensive dataset to measure investor social networks, we find that earnings announcements from firms in higher-centrality locations generate stronger immediate price and trading volume reactions. Post announcement, such firms experience weaker price drifts but higher and more persistent volume. This evidence suggests that while greater social connectedness facilitates timely incorporation of news into prices, it also triggers opinion divergence and excessive trading. We provide a model of these effects and present further supporting evidence with granular data based on StockTwits messages and household trading records.
We welcome you to join us online on Wednesday 1 February 2023 at 2pm.
This seminar is free to attend and we ask you to please contact Dr Anna Sarkisyan for details on how to join.
Lin Peng is the Krell Chair Professor in Finance at Baruch College, City University of New York. She has been a visiting professor at Princeton University, Cambridge University, Columbia University, among others. She is an associate editor and an editorial board member for leading academic journals. Professor Peng’s diverse research interests encompass the areas of Social Finance, ESG, Behavioural Finance, and corporate governance. She has published in many leading economics and finance journals, and has been featured by prominent news outlets such as the Financial Times, Reuters, and Institutional Investor. Her research has been honoured with a number of awards including the United Nation’s Principles for Responsible Investment (UNPRI).