Editorial Review | Long overdue, Zhang's Stock Message Boards provides a consistent, comprehensive and analytical analysis of the functioning of stock message boards and their impact on financial asset pricing. Despite recent growth in interest of social media's input into pricing, most previous work has not been rigorous or comprehensive. Stock Message Boards clearly establishes the need for and benefit of thorough quantitative measurement and analysis of stock message boards and their operational effects. - Peggy E. Swanson, Professor Emeritus, University of Texas at Arlington, USA "In finance, information is king. The internet has led to the democratization and rapid release of investor opinion. In Stock Message Boards, Zhang carefully discusses the different market participants and delineates between announcements that are news and noise. The book is an invaluable read for the retail investor, especially for those who invest in small cap and penny stocks." - Steve Swidler, J. Stanley Mackin Professor of Finance, Auburn University, USA "Stock Message Boards is a timely and invaluable resource for anyone interested in the stock market. Zhang helps readers navigate through the maze of social media terminology and practices, captivating the reader with stories of soaring and plunging stock prices brought on by message board activities. Zhang demonstrates the long-term value of stock market message boards using simple mathematics to show readers how to measure and evaluate message board activities. This book is a must read for stock market practitioners, scholars, and policymakers, especially during the current era of social media." - Larry Lockwood, Stan Block Endowed Chair in Finance, Texas Christian University, |