The Effect of Stock Spam on Financial Markets

  title={The Effect of Stock Spam on Financial Markets},
  author={Rainer B{\"o}hme and Thorsten Holz},
  journal={Economics of Networks eJournal},
Spam messages are ubiquitous and extensive interdisciplinary research has tried to come up with effective countermeasures. However, little is known about the response to unsolicited e-mail, partly because spammers do not disclose sales figures. This paper correlates incoming spam messages that promote the investment in particular equity securities with financial market data. We use multivariate regression models to measure the impact of stock spam on traded volume and conduct an event study to… 
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