講座時間：7月1日下午14：30

講座地點：九里校區零號樓0411室

講座題目：Effects of Headline Salience and News Valence on Investor Decisions: Evidence from Product Competition Disclosure

講座內容：In this study, we conduct an experiment to examine how headline salience and news valence affect individual investors’ use of product competition disclosures in a company’s Twitter in making their judgments and decisions. A firm can choose to disclose its product competition information prominently in the headline of its disclosure (salient) or only discuss the information in the body of the disclosure (stealthy). Based on the limited attention theory, we hypothesize and find that the effect of news valence in product competition disclosures will be exaggerated in the Salience condition such that investors will predict a better future firm performance and make much stronger stock valuations to good competition news than to bad competition news. In contrast, under the Stealthy condition, investors’ performance judgment and stock valuations will be indifferent to good/bad competition news. Overall, this study, as the first to use an experimental method to investigate the relationship between product market competition disclosures in a social media platform and headline prominence, provides implications to management regarding disclosure strategies and helps researchers obtain a better understanding of the influences of product competition disclosures.

主講人簡介：李薇（Li Wei），Associate Professor, Department of Accounting, Kent State University. She received her Ph.D. from Washington State University in 2006. Her main research interests are to examine whether and how psychological and social factors influence investors to make investment decisions, management to make performance evaluation/financial reporting decisions and donors to make donation decisions. Her research outputs provide implications for companies and nonprofit organizations in areas of Financial Reporting, Performance Evaluation and Management.Li has presented her research work at numerous national and international conferences, and published in top accounting journals such as Accounting, Organizations and Society and Accounting Horizons. Li is a co-recipient of two research grants from National Natural Science Foundation of China (NSFC).

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