The Timeliness and Definiteness of Managers' Reply in the Network Interactive Platform Based Communication and Investors' Investment Decisions——An Experimental Evidence

Abstract

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

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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