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.
Bank on it
The Center for Financial Literacy and Education, in conjunction with the Finance Department, received an Executive Training Program Gift for $38,000. Finance Faculty Brant Hammer, Frank DeGeorge and David Fragale will teach a 15-week program to a group of burgeoning portfolio managers from United Bank. This partnership was initiated through the 2019 Bank Summit and cultivated further due to a long-standing relationship with finance Professor Paul Speaker.
Business Butterfly Effect
What happens to small businesses when big retailers shut down?
Ignite!
The Encova Center for Innovation and Entrepreneurship continues to empower budding entrepreneurs across the Mountain State with the tools needed to flourish. The Encova Center is launching IgniteWV, thanks to $200,000 in grant funding from the Claude Worthington Benedum Foundation.
Fashion and Finance
Interested in finance, but also fashion? You can do both! John Pineda, finance senior and fashion merchandising minor, attended New York Fashion Week this fall as a production coordinator. He had the opportunity to see what goes on behind the scenes to put on a show — everything from hair and makeup to seating, lighting, ticketing and security.