Riding the Blockchain Mania: Public Firms’ Speculative 8-K Disclosures
Cheng, S. F., De Franco, G., Jiang, H., & Lin, P. (2019). Riding the blockchain mania: Public firms’ speculative 8-K disclosures. Management Science, 65(12), 5901-5913. https://doi.org/10.1287/mnsc.2019.3357
Recently, Cheng et al. (2019) has shown that publicly-traded firms that mentioned speculative blockchain-related in their 8-K disclosures enjoy a positive but transitory stock price increase. Here, we replicate their search procedure using conference call transcripts.
Define search parameters
% Search endpoint ("API")
url = "https://conferencecall.search.windows.net/indexes/earnings/docs";
% Blockchain-related conference calls contain:
search = "bitcoin OR blockchain OR cryptocurrency";
% Count results by Reuters Instrument Code up to Top-10 firms
facet = "Derived/MostRelevantRIC, count:10";
% Include only U.S.-based firms in the search
filter = "Derived/GeographyName/any(country: country eq 'United States')";
Call the search endpoint
- apikey = credentials are available from the author (required)
- api-version = version of the search endpoint (required)
- webread = reads content from the web service specified by url and the query parameters and returns the content in data.
data = webread( url, "api-key", apikey, "api-version", "2020-06-30",...
"search", search, "facet", facet, "$filter", filter);
Show RICs with the most blockchain related conference calls
T = struct2table(data.x_search_facets.Derived_MostRelevantRIC);
disp(T)
count value
_____ _______________
31 {'OSTK.OQ' }
17 {'BR.N' }
16 {'GROW.OQ' }
13 {'AMD.OQ' }
12 {'MA.N' }
12 {'SQ.N' }
11 {'SRTI.PK^A20'}
9 {'CME.OQ' }
9 {'NVDA.OQ' }
8 {'CBOE.Z' }