网络互动平台沟通中管理层回复的及时性、明确性与投资者投资决策——一项实验证据

摘要/Abstract

摘要：

本文基于心理和行为的视角,采用实验研究方法,检验了网络互动平台上公司管理层回复投资者提问的及时性和明确性对投资者投资决策的影响。研究发现:相对于公司管理层不及时回复,在公司管理层及时回复的情况下,投资者的投资可能性更高;相对于公司管理层回复明确程度较低,在公司管理层回复明确程度较高的情况下,投资者的投资可能性更高。同时还发现,公司管理层回复的明确性调节了公司管理层回复的及时性与投资可能性之间的关系。此外,本文还发现了公司管理层回复及时性和明确性影响投资者投资决策的具体路径。

关键词: 网络互动平台, 及时性, 明确性, 投资决策

Abstract:

From the perspectives of psychology and behavior, this paper investigates how the timeliness and definiteness of managers' reply impact investors' investment decisions on the network interactive platform by employing an experimental method. We find that investors are more likely to invest in a company when its management answer investors' questions timely than when its management delay in answering; and that investors are more likely to invest in a company when its management reply to investors definitely than when its management reply vaguely. Meanwhile, we find the effect of timeliness on investment likelihood is moderated by definiteness of managers' reply. In addition, we also find the specific path where investors' investment decisions are influenced by the timeliness and definiteness of managers' reply.

Key words: network interactive platform, timeliness, definiteness, investment decisions

张继勋, 韩冬梅. 网络互动平台沟通中管理层回复的及时性、明确性与投资者投资决策——一项实验证据[J]. , 2015, 27(10): 70-83.

Zhang Jixun, Han Dongmei. The Timeliness and Definiteness of Managers' Reply in the Network Interactive Platform Based Communication and Investors' Investment Decisions——An Experimental Evidence[J]. , 2015, 27(10): 70-83.

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