Abstract

This study explores the changes in moral orientation and the communicative practices that are used within a virtual community during discussion regarding the prospects of a listed Australian company experiencing abnormal volume and stock price activity. The results indicate that communicative practices and moral orientation change markedly over time and are associated with changes in market volume and share price volatility. Our analysis highlights how a financial Internet discussion site is used for both communicative and strategic action, and how these acts relate to apparent attempts by community members to make sense of conflicting information in an uncertain and dynamic decision-making environment.

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