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.
On The Board
Rodney Williams, an alumnus of the Chambers College, has been named one of the newest members of the WVU Alumni Association Board of Directors. Elected during the November 2022 meeting, Williams will serve a six-year term expiring in 2028.
Embodying the Mountaineer Spirit
Congratulations to marketing student Madison Bowers, who was named a Mountaineer of Distinction this fall. The award was presented during WVU’s Mountaineer Week in October 2021 and recognizes exemplary academic achievement and extracurricular involvement. Way to go, Madison! “As someone who is from a tiny town in Coal County, West Virginia, winning this award meant the world to me. I firmly believe that it takes a village to raise a kid and I am endlessly thankful to my family, friends, community, and Chambers College family, for their help along the way. Once a Mountaineer, always a Mountaineer.”
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.