Twitter Mood, CEO Succession Announcements and Stock Returns

D. Leitch, Mohamed Sherif

Research output: Contribution to journalArticle

Abstract

This paper examines the relationship between Twitter sentiment on the announcement of Chief Executive Officer (CEO) succession and stock returns over the period 2010-2015. The study comprises data from 100 listed companies from the UK and the USA. A code was written to collect data from Twitter using the platform Python. We provide novel evidence on how Twitter reactions measured by the Twitter Sentiment Score (TSS) of CEO succession announcements are used to forecast stock returns, finding that Twitter sentiment has a negative contemporaneous relationship with stock returns and CEO succession announcements. Furthermore, we explore the influence of CEO demographic characteristics (e.g. age, tenure, education, gender and professional experience) on stock returns. We find a positive and highly significant relationship between CEO age at announcement and stock returns.
LanguageEnglish
Pages1-10
Number of pages10
JournalJournal of Computational Science
Volume21
Early online date21 Apr 2017
DOIs
StatePublished - Jul 2017

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Stock returns
twitter
executive
return
Mood
gender
Python
professional experience
education
age
mood
Forecast
corporation
reaction
prognosis
Great Britain
score
data
influence exertion
Sentiment

Cite this

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Twitter Mood, CEO Succession Announcements and Stock Returns. / Leitch, D.; Sherif, Mohamed.

In: Journal of Computational Science, Vol. 21, 07.2017, p. 1-10.

Research output: Contribution to journalArticle

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