{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,2]],"date-time":"2026-10-02T06:55:14Z","timestamp":1790924114299,"version":"4.1.0"},"posted":{"date-parts":[[2026]]},"group-title":"SSRN","reference-count":0,"publisher":"Elsevier BV","license":[{"start":{"date-parts":[[2026,1,1]],"date-time":"2026-01-01T00:00:00Z","timestamp":1767225600000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/www.uspto.gov\/ip-policy\/copyright-policy\/copyright-basics"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"abstract":"<jats:p>&lt;div&gt;\n Online market discourse has at least two separable dimensions: what participants say and how much participation occurs. We test whether participation measures contain incremental information about subsequent equity volatility beyond contemporaneous sentiment and conventional market context. The study uses a historically measurement-qualified panel whose source rules, timing windows, predictor construction, outcome definition, baseline controls, fixed effects, clustered covariance, hypothesis sequence, and robustness analyses were frozen before market outcomes were accessed. In the primary 24-hour specification, 4,784 complete-case asset-days across 39 equities were available. A joint two-degree-of-freedom test of social activity intensity and News publisher breadth rejected the null (Wald chi-square(2)=8.24, p=0.0162). Social activity intensity was positive (estimate=0.00502, 95% CI 0.00108 to 0.00896), while News publisher breadth was also positive but individually imprecise (estimate=0.00440, 95% CI -0.00218 to 0.01099). Incremental fit was small (partial R2=0.00211). A pre-specified contributor-breadth extension did not reject (p=0.932), closing the confirmatory sequence; contributor concentration was therefore descriptive only. H1 coefficient signs remained positive across all reported robustness checks, but the joint test did not reject under equal-total-weight-by-asset estimation or the 6-hour timing sensitivity. The results support a modest, specification-sensitive association between participation intensity and later realized volatility. They do not establish causation, directional-price predictability, or trading profitability.\n&lt;\/div&gt;<\/jats:p>","DOI":"10.2139\/ssrn.7546002","type":"posted-content","created":{"date-parts":[[2026,10,2]],"date-time":"2026-10-02T06:38:23Z","timestamp":1790923103000},"source":"Crossref","is-referenced-by-count":0,"title":["Participation Intensity and Subsequent Equity Volatility: Incremental Information beyond Sentiment and Market Context"],"prefix":"10.2139","author":[{"ORCID":"https:\/\/orcid.org\/0009-0009-8639-7750","authenticated-orcid":true,"given":"Shane","family":"Corrie","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"78","container-title":[],"original-title":[],"deposited":{"date-parts":[[2026,10,2]],"date-time":"2026-10-02T06:38:23Z","timestamp":1790923103000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.ssrn.com\/abstract=7546002"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2026]]},"references-count":0,"URL":"https:\/\/doi.org\/10.2139\/ssrn.7546002","relation":{},"subject":[],"published":{"date-parts":[[2026]]},"subtype":"preprint"}}