Can Mobile App Usage Help Predict Firm-Level Stock Returns?

Ziqing Yuan; Hailiang Chen

Can Mobile App Usage Help Predict Firm-Level Stock Returns?

Department of Information Systems

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

2 Citations (Scopus)

Abstract

Mobile app market is one of the fast-growing segments of the mobile industry. With the increasing app users, mobile app market provides a new source of information that could potentially help predict a firm's future financial performance. This paper investigates the relationship between mobile app usage and future stock returns. We utilize a panel data set of 326 public firms that have released mobile apps on the Apple iOS App Store or Google Play Store. Our results show that monthly abnormal app downloads and abnormal daily users are positively associated with the next-month abnormal stock returns, suggesting that mobile app usage can help predict firm-level future stock returns. The findings are robust to the inclusion of different sets of controls. Collectively, this study provides new insights for investors with respect to the predictive value of mobile app usage data.

Original language	English
Title of host publication	International Conference on Information Systems 2019 Proceedings
Publisher	Association for Information Systems
ISBN (Electronic)	9780996683197
Publication status	Published - Dec 2019
Event	40th International Conference on Information Systems (ICIS 2019) - Internationales Congress Center München (ICM), Munich, Germany Duration: 15 Dec 2019 → 18 Dec 2019 https://icis2019.aisconferences.org/ https://aisel.aisnet.org/icis2019/

Publication series

Name	International Conference on Information Systems, ICIS

Conference

Conference	40th International Conference on Information Systems (ICIS 2019)
Place	Germany
City	Munich
Period	15/12/19 → 18/12/19
Internet address	https://icis2019.aisconferences.org/ https://aisel.aisnet.org/icis2019/

Bibliographical note

Full text of this publication does not contain sufficient affiliation information. With consent from the author(s) concerned, the Research Unit(s) information for this record is based on the existing academic department affiliation of the author(s).

Research Keywords

Abnormal return
App daily users
App downloads
Mobile app usage
Stock return predictability

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https://aisel.aisnet.org/icis2019/data_science/data_science/18/

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Cite this

@inproceedings{53f316bec4c540f388a925d66a443c81,

title = "Can Mobile App Usage Help Predict Firm-Level Stock Returns?",

abstract = "Mobile app market is one of the fast-growing segments of the mobile industry. With the increasing app users, mobile app market provides a new source of information that could potentially help predict a firm's future financial performance. This paper investigates the relationship between mobile app usage and future stock returns. We utilize a panel data set of 326 public firms that have released mobile apps on the Apple iOS App Store or Google Play Store. Our results show that monthly abnormal app downloads and abnormal daily users are positively associated with the next-month abnormal stock returns, suggesting that mobile app usage can help predict firm-level future stock returns. The findings are robust to the inclusion of different sets of controls. Collectively, this study provides new insights for investors with respect to the predictive value of mobile app usage data.",

keywords = "Abnormal return, App daily users, App downloads, Mobile app usage, Stock return predictability",

author = "Ziqing Yuan and Hailiang Chen",

note = "Full text of this publication does not contain sufficient affiliation information. With consent from the author(s) concerned, the Research Unit(s) information for this record is based on the existing academic department affiliation of the author(s).; 40th International Conference on Information Systems (ICIS 2019) ; Conference date: 15-12-2019 Through 18-12-2019",

year = "2019",

month = dec,

language = "English",

series = "International Conference on Information Systems, ICIS",

publisher = "Association for Information Systems",

booktitle = "International Conference on Information Systems 2019 Proceedings",

address = "United States",

url = "https://icis2019.aisconferences.org/, https://aisel.aisnet.org/icis2019/",

}

Yuan, Z & Chen, H 2019, Can Mobile App Usage Help Predict Firm-Level Stock Returns? in International Conference on Information Systems 2019 Proceedings. International Conference on Information Systems, ICIS, Association for Information Systems, 40th International Conference on Information Systems (ICIS 2019), Munich, Germany, 15/12/19. <https://aisel.aisnet.org/icis2019/data_science/data_science/18/>

Can Mobile App Usage Help Predict Firm-Level Stock Returns? / Yuan, Ziqing ; Chen, Hailiang.
International Conference on Information Systems 2019 Proceedings. Association for Information Systems, 2019. (International Conference on Information Systems, ICIS).

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review