%0 Journal Article %1 hanke2006 %A Hanke, Florian Hauser Michael %D 2006 %K d3 %T On the Effects of Stock Spam E-mails %U http://www.itax.at/pdf/hanke.pdf %X Abstract A rising number of unsolicited e-mails recommends buying certain stocks, pretending that the sender has private information that will boost these stocks’ prices when it becomes publicly available. We first describe the common characteristics of stocks pushed by such e-mails. Then, we investigate the effect of stock spam e-mails on returns, volatility, intraday spread, and volume. We find a significant impact of spam mails on all of these variables. As a second contribution, we characterize features of stocks that are particularly easy to manipulate, and we investigate depen- dencies between these features. JEL classification: D82, G14, G24 Keywords: stock spam, market manipulation

@article{hanke2006, abstract = {Abstract A rising number of unsolicited e-mails recommends buying certain stocks, pretending that the sender has private information that will boost these stocks’ prices when it becomes publicly available. We first describe the common characteristics of stocks pushed by such e-mails. Then, we investigate the effect of stock spam e-mails on returns, volatility, intraday spread, and volume. We find a significant impact of spam mails on all of these variables. As a second contribution, we characterize features of stocks that are particularly easy to manipulate, and we investigate depen- dencies between these features. JEL classification: D82, G14, G24 Keywords: stock spam, market manipulation }, added-at = {2009-03-02T16:18:03.000+0100}, author = {Hanke, Florian Hauser Michael}, biburl = {https://www.bibsonomy.org/bibtex/210651f0d5f7af34e2a5012719286a260/enterldestodes}, interhash = {99e06f2e941aa62e447a11d92cd06060}, intrahash = {10651f0d5f7af34e2a5012719286a260}, keywords = {d3}, timestamp = {2009-03-02T16:18:03.000+0100}, title = {On the Effects of Stock Spam E-mails}, url = {http://www.itax.at/pdf/hanke.pdf}, year = 2006 }