High on Bitcoin: Evidence of emotional contagion in the YouTube crypto influencer space

Meyer, Eva; Sandner, Philipp; Cloutier, Bernard; Welpe, Isabell M.

doi:10.1016/j.jbusres.2023.113850

Cited by 16 publications

(2 citation statements)

References 76 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Recently, personal finance has become a popular topic of online discussion. For example, 52 crypto influencers have owned over 21 million subscribers and received nearly two billion views in recent years (Meyer et al, 2023). Finance knowledge influencers are a niche marketing group with exponential expected growth, and they provide their advice about various financial topics in daily life, such as portfolio management and stock investment, through videos or posts on social media platforms (de Regt et al, 2023).…”

Section: Finance Knowledge Influencersmentioning

confidence: 99%

“…Some finance knowledge influencers based on domain topics offer guidance on managing various aspects of financial life, disseminating their advice across a wide range of money-related topics, such as handling student loans, purchasing homes, negotiating salary increases, budgeting techniques, tax return filing, stock investment opportunities, and portfolio management (de Regt et al, 2023). There is another type of finance knowledge influencers who share knowledge focusing on a specific financial topic, such as crypto (Meyer et al, 2023) and stocks (Handranata et al, 2022). According to the construal level theory, a specific topic increases the level of concreteness to make individuals feel psychologically closer to the influencer than domain topics do because of the low construal (Trope & Liberman, 2010).…”

Section: Finance Knowledge Influencers' Expertisementioning

confidence: 99%

See 1 more Smart Citation

Effects of finance knowledge influencer qualities on investment willingness and the moderation of followers' risk tolerance

Luan,

Chen,

et al. 2024

J of Consumer Behaviour

View full text Add to dashboard Cite

Fueled by the rise of social media, internet celebrities (or influencers) are a subgroup of public figures who have gained extreme public attention in recent years. In this study, we examined the qualities of finance knowledge influencers to elucidate the impact that investment discussions or tutorials posted by influencers have on followers' and audiences' investment willingness. We adopted attractiveness, expertise, and trustworthiness as the independent variables, followers' risk tolerance as the moderator, and followers' investment willingness as the dependent variable. For data collection, respondents were instructed to watch three different influencer videos and complete a questionnaire. A total of 327 valid questionnaires were collected and analyzed. The questionnaire survey results showed that influencers' attractiveness expertise, and trustworthiness positively affected followers' investment willingness. Furthermore, followers' risk tolerance negatively moderates the relationship between influencer attractiveness and investment willingness, but it positively moderates the relationship between influencer trustworthiness and investment willingness. The empirical findings of this study theoretically contribute to academics and have practical implications in the real world. We propose several suggestions for future research.

show abstract

Section: Finance Knowledge Influencersmentioning

confidence: 99%

Section: Finance Knowledge Influencers' Expertisementioning

confidence: 99%

Effects of finance knowledge influencer qualities on investment willingness and the moderation of followers' risk tolerance

Luan,

Chen,

et al. 2024

J of Consumer Behaviour

View full text Add to dashboard Cite

show abstract

My money—My problem: How fear‐of‐missing‐out appeals can hinder sustainable investment decisions

Meyer,

Friederich,

Matute

et al. 2024

Psychology and Marketing

View full text Add to dashboard Cite

Cryptocurrencies (cryptos) have detrimental environmental effects due to their massive energy consumption. While several green crypto coins have been launched, the mainstream—environmentally unfriendly coins—still lead the market. In this study, we explore if influencer marketing, specifically fear‐of‐missing‐out (FOMO) appeals, can contribute to promoting green crypto coin purchases to encourage sustainable investments. The results of five studies (two lab experiments using neurobiological sensors, two online experiments, and a discrete choice experiment) show that social media postings conveying FOMO appeals decrease (increase) green crypto (normal crypto) coin investments. The results further show that message congruence and emotional value perceptions mediate this effect. Finally, we demonstrate that the observed results hold when adding governance and regulatory crypto support as well as the crypto price path evolution to the choice. The results provide notable theoretical contributions and implications for policymakers concerned with fostering more sustainable consumption behavior in the crypto context.

show abstract

Market and regulatory implications of social identity cohorts: a discussion of crypto influencers

Jagolinzer

2024

Rev Account Stud

View full text Add to dashboard Cite

Merkley et al. (2023) examine how cryptocurrency influencers recommend digital coins on Twitter (X) and the associated price effects. They report that influencers may exploit market investors via potential pump and dump schemes. While plausible, researchers may develop a broader understanding of influencers’ incentives and their influence by considering how investors engage these markets for social identity needs that enhance utility. Social-psychological research indicates that someone’s social identity strongly influences their behavior, even making the behavior maladaptive. This paper discusses how crypto influencers create social identity resonance. It then discusses how influencers can leverage this resonance for potentially lucrative financial opportunities, which might manifest in different expected crypto price patterns. The paper concludes by recommending more research on influencers’ experience, networks, and communication choices; the effects of video relative to text communication; and implications of social identity cohorts that influence prices and undermine regulatory trust in traditional markets.

show abstract

High on Bitcoin: Evidence of emotional contagion in the YouTube crypto influencer space

Cited by 16 publications

References 76 publications

Effects of finance knowledge influencer qualities on investment willingness and the moderation of followers' risk tolerance

Effects of finance knowledge influencer qualities on investment willingness and the moderation of followers' risk tolerance

My money—My problem: How fear‐of‐missing‐out appeals can hinder sustainable investment decisions

Market and regulatory implications of social identity cohorts: a discussion of crypto influencers

Contact Info

Product

Resources

About