{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,3,1]],"date-time":"2026-03-01T18:38:02Z","timestamp":1772390282604,"version":"3.50.1"},"reference-count":117,"publisher":"American Accounting Association","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"published-print":{"date-parts":[[2024,3,1]]},"abstract":"<jats:title>ABSTRACT<\/jats:title>\n               <jats:p>We examine whether passivity on firms\u2019 corporate Facebook pages moderates the relationship between the sentiment among social media users toward the firms and their future stock returns. We find that a longer period of posting passivity is likely to reverse a positive effect of positive sentiment on the firm\u2019s future stock prices. For negative sentiment, we find that social media passivity results in amplified negative sentiment on the firm\u2019s future stock prices. Moreover, we find that the longer the firm is passive, the longer it takes to overcome the negative effects of the posting passivity by resuming posting.<\/jats:p>\n               <jats:p>Data Availability: Data are available from commercial databases and public sources identified in the paper.<\/jats:p>\n               <jats:p>JEL Classification: D91, G40, M15, M40, M41.<\/jats:p>","DOI":"10.2308\/isys-2023-059","type":"journal-article","created":{"date-parts":[[2024,2,6]],"date-time":"2024-02-06T14:51:43Z","timestamp":1707231103000},"page":"5-38","source":"Crossref","is-referenced-by-count":2,"title":["The Risk of Silence\u2014How the Capital Market Penalizes Social Media Passivity"],"prefix":"10.2308","volume":"38","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-8419-7191","authenticated-orcid":false,"given":"Christian","family":"Beer","sequence":"first","affiliation":[{"name":"TU Dortmund University"}]},{"given":"Janine","family":"Maniora","sequence":"additional","affiliation":[{"name":"Heinrich-Heine-University D\u00fcsseldorf"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-6080-2900","authenticated-orcid":false,"given":"Christiane","family":"Pott","sequence":"additional","affiliation":[{"name":"TU Dortmund University"}]}],"member":"1112","published-online":{"date-parts":[[2024,2,20]]},"reference":[{"key":"2024030114051269700_B1","unstructured":"Agarwal,\n              A.\n            , B.Xie, I.Vovsha, O.Rambow, and R.Passoneau. 2011. 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The information content of internet stock message boards","volume":"59","author":"Antweiler,","year":"2004","journal-title":"The Journal of Finance"},{"issue":"5","key":"2024030114051269700_B5","doi-asserted-by":"crossref","first-page":"123","DOI":"10.3905\/jpm.2016.42.5.123","article-title":"The wisdom of Twitter crowds: Predicting stock market reactions to FOMC meetings via Twitter feeds","volume":"42","author":"Azar,","year":"2016","journal-title":"The Journal of Portfolio Management"},{"issue":"4","key":"2024030114051269700_B6","doi-asserted-by":"crossref","first-page":"1645","DOI":"10.1111\/j.1540-6261.2006.00885.x","article-title":"Investor sentiment and the cross-section of stock returns","volume":"61","author":"Baker,","year":"2006","journal-title":"The Journal of Finance"},{"issue":"3","key":"2024030114051269700_B7","first-page":"307","article-title":"A model of investor sentiment","volume":"49","author":"Barberis,","year":"1998","journal-title":"Journal of Financial Economics"},{"issue":"3","key":"2024030114051269700_B8","doi-asserted-by":"crossref","first-page":"25","DOI":"10.2308\/accr-51865","article-title":"Can Twitter help predict firm-level earnings and stock returns?","volume":"93","author":"Bartov,","year":"2018","journal-title":"The Accounting Review"},{"issue":"1","key":"2024030114051269700_B9","doi-asserted-by":"crossref","first-page":"51","DOI":"10.19030\/jabr.v29i1.7555","article-title":"Measuring stock market investor sentiment","volume":"29","author":"Beer,","year":"2012","journal-title":"Journal of Applied Business Research"},{"key":"2024030114051269700_B10","first-page":"341","article-title":"Social market: Stock market and Twitter correlation","volume":"73","author":"Bernardo,","year":"2017","journal-title":"Intelligent Decision Technologies"},{"issue":"1","key":"2024030114051269700_B11","doi-asserted-by":"crossref","first-page":"249","DOI":"10.1162\/003355304772839588","article-title":"How much should we trust differences-in-differences estimates?","volume":"119","author":"Bertrand,","year":"2004","journal-title":"The Quarterly Journal of Economics"},{"issue":"8","key":"2024030114051269700_B12","doi-asserted-by":"crossref","first-page":"e289","DOI":"10.2196\/jmir.7956","article-title":"A collaborative approach to identifying social media markers of schizophrenia by employing machine learning and clinical appraisals","volume":"19","author":"Birnbaum,","year":"2017","journal-title":"Journal of Medical Internet Research"},{"key":"2024030114051269700_B13","doi-asserted-by":"crossref","first-page":"80","DOI":"10.1016\/j.aos.2018.03.009","article-title":"Firm communication and investor response: A framework and discussion integrating social media","volume":"68\u201369","author":"Blankespoor,","year":"2018","journal-title":"Accounting, Organizations and Society"},{"issue":"1","key":"2024030114051269700_B14","doi-asserted-by":"crossref","first-page":"79","DOI":"10.2308\/accr-50576","article-title":"The role of dissemination in market liquidity: Evidence from firms\u2019 use of Twitter\u2122","volume":"89","author":"Blankespoor,","year":"2014","journal-title":"The Accounting Review"},{"issue":"5","key":"2024030114051269700_B15","doi-asserted-by":"crossref","first-page":"526","DOI":"10.1007\/s10791-008-9070-z","article-title":"A machine learning approach to sentiment analysis in multilingual web texts","volume":"12","author":"Boiy,","year":"2009","journal-title":"Information Retrieval"},{"issue":"1","key":"2024030114051269700_B16","doi-asserted-by":"crossref","first-page":"450","DOI":"10.1609\/icwsm.v5i1.14171","article-title":"Modeling public mood and emotion: Twitter sentiment and socio-economic phenomena","volume":"5","author":"Bollen,","year":"2021","journal-title":"Proceedings of the International AAAI Conference on Web and Social Media"},{"issue":"1","key":"2024030114051269700_B17","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1016\/j.jocs.2010.12.007","article-title":"Twitter mood predicts the stock market","volume":"2","author":"Bollen,","year":"2011","journal-title":"Journal of Computational Science"},{"key":"2024030114051269700_B18","unstructured":"Bradshaw,\n              S.\n            , and P.Howard. 2017. 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