Twitter is more than rantin’ and ravin’ and snarky memes. It can influence stock returns, according to Alexander Kurov, professor and Fred T. Tattersall research chair in finance. Kurov and Chen Gu, a 2018 graduate of the finance doctoral program, found that firm-level Twitter content has information useful for predicting next-day stock returns, and that it is a stronger predictor of returns for firms with less analyst coverage. Their study, “ Informational role of social media: Evidence from Twitter sentiment,” is published in the Journal of Banking and Finance.
Get Hyped
How did a global megacompany decide to invest in the Mountain State in developing the transportation of the future? Well, we have the Chambers College, Vantage Ventures and its Executive Director Sarah Biller to thank for helping land Virgin Hyperloop. The company announced it would build a certification center spanning nearly 800 acres in Tucker and Grant counties. When completed, the Virgin Hyperloop system expects to carry passengers in pods through a vacuum tube at speeds breaking 600 mph. Read more about it in an upcoming feature story in 2021 in WVU Magazine.
Beauty and the Least (Paid) $$$
Football was never intended to be a beauty pageant. A study led by economics professor Brad Humphreys backs it up. In fact, if you’re a handsome heartthrob coaching an NCAA Division I team, you might get a penalty flag when it comes to pay.
Take Stock
Worried about a looming recession and what to do with your money? Hold steady on those investment plans, advises Alexander Kurov, professor and Fred T. Tattersall research chair in finance. In an article penned for The Conversation, Kurov writes “Stick to your long-term plan and ignore day-to-day market fluctuations, however frightening they may be. Don’t take my word for it. The tried and true approach of passive investing is backed up by a lot of evidence.” To dive into the full article, go to go.wvu.edu/kurov.
Lasting Impact
A good book can change your life. A good research paper can change many lives.
Fans Arrive Like Butterflies
Large, one-off events such as music concerts can create economic impacts not seen from professional sports, suggests rockin’ research by Joshua Hall, chair and professor of economics. Hall and Justin Parker, a 2020 Ph.D. economics graduate, found that Pearl Jam’s Seattle “Home Shows” in August 2018 generated $58 million in additional hotel revenue and $9 million in hotel tax revenue. That dwarfs Seattle Mariners baseball games ($140,000 in additional hotel revenue on game days). Their research was published in the Annals of Tourism Research Empirical Insights.