Market watch: Information and availability cascades among the media and investors in the USIPO market

• 成果类型: Review
• 署名作者: Pollock, Timothy G.; Rindova, Violina P.; Maggitti, Patrick G.
• 署名单位: Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Texas System; University of Texas Austin; Villanova University
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• 发表日期: 2008
• 页码: 335-358
• 关键词: SOCIAL CONSTRUCTION; performance; industry; management; MODEL; uncertainty; CATEGORIES; conformity; attention; prospects

摘要

In this study we advance current research on social influence in markets by examining how the recency and availability of information about others' actions within and between different communities influence their allocation of attention and their evaluations. Specifically, we examine how the media and investors allocate attention to and evaluate newly public firms in the days following their initial public offerings (IPOs). Our findings have implications for understanding the fieldwide processes through which the value of new firms is established in markets.