Intermediary roles of box office earnings and leading actor influences on the relationship between box office buzz and stock price fluctuations

• Box office reputation positively affects stock price volatility. • Box office word-of-mouth's impact on stock volatility varies by time slot. • Box office revenue is a key mediator in word-of-mouth's effect on stock volatility. • Starring actors enhance the positive effect of box office on stock price fluctuations. Using domestic movie data from 2013 to 2022, this study explores the relationship between box office word of mouth (WOM) and stock price volatility. Findings reveal that box office WOM significantly positive affects stock volatility. Notably, the impact of box office WOM on stock prices differentiates blockbuster movies from regular ones. Box office revenue plays a crucial mediating role in the impact of box office WOM on stock price volatility, while the leading actor factor (the total number of Twitter followers for the two main actors in a film) significantly enhances the positive effect of box office WOM on stock prices.