Financialization and Information Technology: Themes, issues and Critical           Debates – part I

Currie, Wendy L.; Lagoarde‐Segot, Thomas

doi:10.1057/s41265-017-0044-8

Cited by 22 publications

(9 citation statements)

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“…Against the background of the increasingly pronounced role of information systems within financial markets, our study contributes to the literature by providing evidence that next to positive aspects fostering market efficiency (Currie & Lagoarde‐Segot, ), information systems can also cultivate behaviour negatively influencing the functioning of financial markets. We confirm that the phenomenon of stock touting leads to effects that might impact market efficiency and reduce trust towards financial markets, thereby potentially negatively affecting the market function.…”

Section: Discussionmentioning

confidence: 66%

“…The importance of financial markets has constantly increased (Epstein, ), whereas the expansion of information technologies has been a key driver of financial integration (Lagoarde‐Segot, ). Information systems have altered market mechanisms, thereby changing finance and banking (Currie & Lagoarde‐Segot, ). Specifically, the Internet enables more efficient information exchange and increases the speed of information processing; thus, it positively influences market efficiency.…”

Section: Background and Research Hypothesesmentioning

confidence: 99%

“…Overall, approaches for detecting deceptive behaviour are essential to reduce the negative impact arising from deceptive behaviour pursued using the Internet (Zahedi, Abbasi, & Chen, ). Consequently, such approaches are valuable for increasing trust towards financial markets (Currie & Lagoarde‐Segot, ).…”

Section: Background and Research Hypothesesmentioning

confidence: 99%

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The economics of stock touting during Internet‐based pump and dump campaigns

Siering

2018

Information Systems Journal

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Information systems have facilitated the increase in relevance of financial markets. Nevertheless, the rise of the Internet has eased information-based financial market manipulations. In this study, we examine the phenomenon of stock touting during pump and dump campaigns, in which deceivers advertise stocks to profit from an increased price level. We observe that the positive prospects promised are not confirmed by corporate disclosures and financial news.Furthermore, manipulators select targeted financial instruments based on specific stock and company characteristics.Manipulators avoid signals of anomaly and prefer unknown stocks. We find that stock touting has a positive market impact but that it is followed by a large decline in stock price in the subsequent days, causing investors to lose substantial amounts of their investments. We consider the impact of information generation, information content, and information presentation on the corresponding market reaction. Interestingly, information generation influences the demand for the stock, but information content and information presentation drive the willingness to pay. Our results are highly relevant for Internet users, software vendors, and market surveillance authorities, as a deep understanding of such information-based manipulations is necessary to develop appropriate countermeasures.KEYWORDS content analysis, deceptive information practices, event study, financial market manipulation, pump and dump manipulation, stock touting

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Section: Discussionmentioning

confidence: 66%

Section: Background and Research Hypothesesmentioning

confidence: 99%

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The economics of stock touting during Internet‐based pump and dump campaigns

Siering

2018

Information Systems Journal

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“…However, relationship banking needs to respond to substantial challenges due to IT-driven innovations (highlighted by e.g. Currie and Lagoarde-Segot, 2017). First, the potential drawback of relationship banking refers to its efficiency in comparison to transaction-driven technologies.…”

Section: Introductionmentioning

confidence: 99%

Relationship Banking and Information Technology: The Role of Artificial Intelligence and Fintech

Jakšič

Marinč

2017

SSRN Journal

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“…FinTech as rapidly growing aspect of the wider process of financialization since the computerization of financial markets and the automation of equity markets since the 1980s raises some important questions of how quickly information technology has transformed financial trading, electronic banking and finance investment (Currie & Lagoarde-Segot, 2017). FinTech has the potential to mediate and shape markets through innovation especially in periods of crisis.…”

mentioning

confidence: 99%