國立虎尾科技大學 |

Essays on Social Networks and Investments.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Essays on Social Networks and Investments./
Author:	Kesici, Emre.
Description:	1 online resource (185 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 83-06, Section: A.
Contained By:	Dissertations Abstracts International83-06A.
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9798759967774

Essays on Social Networks and Investments.
Kesici, Emre.

Essays on Social Networks and Investments. - 1 online resource (185 pages)

Source: Dissertations Abstracts International, Volume: 83-06, Section: A.

Thesis (Ph.D.)--The University of Texas at San Antonio, 2021.

Includes bibliographical references

This dissertation explores the impact of social networks on investments. The first essay examines how information acquisition through social media affects venture capital (VC) investments into VC-backed startups. We collect a unique data set from Twitter API to measure the impact of portfolio companies owned social media (OSM) and earned social media (ESM) on the structure of VC investments. We find evidence consistent with the hypothesis that startup firms' social media engagement affects the staging of VC financing, the VC syndicate structure, and the probability of a successful exit. If a portfolio company's social media accounts are more active and the company has a higher engagement volume with its followers, VC firms reduce the extent of stage financing and are less likely to syndicate with each other in financing such a portfolio company.The second essay uses social network data from Facebook to examine the impact of social connections on equity home bias in actively managed equity mutual funds. We find that U.S. fund managers invest more in firms headquartered in locations to which the fund manager is more likely to be socially connected. For managers of funds that invest in non-US equities, a one standard deviation increase in the social connectedness index is associated with a 1.283% increase in the stock holdings. For managers of domestic U.S. funds, a one standard deviation increase in the social connectedness index to a particular U.S. county is associated with a 0.026% increase in stock holdings.The third essay uses social network data from Facebook to examine how information acquisition through social connections affects venture capital (VC) investments into VC-backed startups. We use a unique data set from Facebook to measure the impact of social proximity of portfolio companies and venture capital investors on the structure of VC investments. We find evidence consistent with the hypothesis that social concentration between VC investors and portfolio firms decrease information asymmetry, increase investor attention and familiarity, reduce coordination cost among VC firms, and improves monitoring outcomes. If a portfolio company's location is more socially connected to location of a VC firm, VC firms reduce the extent of stage financing and are less likely to syndicate with each other in financing such a portfolio company.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798759967774Subjects--Topical Terms:

559073
Finance.
Subjects--Index Terms:

Home biasIndex Terms--Genre/Form:

554714
Electronic books.

Essays on Social Networks and Investments.
LDR:03758ntm a22004097 4500 001 1148851
005 20240930105240.5
006 m o d
007 cr bn ---uuuuu
008 250605s2021 xx obm 000 0 eng d
020 $a 9798759967774
035 $a (MiAaPQ)AAI28863137
035 $a AAI28863137
040 $a MiAaPQ $b eng $c MiAaPQ $d NTU
100 1 $a Kesici, Emre. $3 1474927
245 1 0 $a Essays on Social Networks and Investments.
264 0 $c 2021
300 $a 1 online resource (185 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertations Abstracts International, Volume: 83-06, Section: A.
500 $a Advisor: Bayar, Onur.
502 $a Thesis (Ph.D.)--The University of Texas at San Antonio, 2021.
504 $a Includes bibliographical references
520 $a This dissertation explores the impact of social networks on investments. The first essay examines how information acquisition through social media affects venture capital (VC) investments into VC-backed startups. We collect a unique data set from Twitter API to measure the impact of portfolio companies owned social media (OSM) and earned social media (ESM) on the structure of VC investments. We find evidence consistent with the hypothesis that startup firms' social media engagement affects the staging of VC financing, the VC syndicate structure, and the probability of a successful exit. If a portfolio company's social media accounts are more active and the company has a higher engagement volume with its followers, VC firms reduce the extent of stage financing and are less likely to syndicate with each other in financing such a portfolio company.The second essay uses social network data from Facebook to examine the impact of social connections on equity home bias in actively managed equity mutual funds. We find that U.S. fund managers invest more in firms headquartered in locations to which the fund manager is more likely to be socially connected. For managers of funds that invest in non-US equities, a one standard deviation increase in the social connectedness index is associated with a 1.283% increase in the stock holdings. For managers of domestic U.S. funds, a one standard deviation increase in the social connectedness index to a particular U.S. county is associated with a 0.026% increase in stock holdings.The third essay uses social network data from Facebook to examine how information acquisition through social connections affects venture capital (VC) investments into VC-backed startups. We use a unique data set from Facebook to measure the impact of social proximity of portfolio companies and venture capital investors on the structure of VC investments. We find evidence consistent with the hypothesis that social concentration between VC investors and portfolio firms decrease information asymmetry, increase investor attention and familiarity, reduce coordination cost among VC firms, and improves monitoring outcomes. If a portfolio company's location is more socially connected to location of a VC firm, VC firms reduce the extent of stage financing and are less likely to syndicate with each other in financing such a portfolio company.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2024
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
650 4 $a Business administration. $3 1148568
653 $a Home bias
653 $a Information acquisition
653 $a Social media
653 $a Social networks
653 $a Stage financing
653 $a Venture capital
655 7 $a Electronic books. $2 local $3 554714
690 $a 0508
690 $a 0310
690 $a 0511
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a The University of Texas at San Antonio. $b Finance. $3 1192630
773 0 $t Dissertations Abstracts International $g 83-06A.
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=28863137 $z click for full text (PQDT)