The Media and the Diffusion of Information in Financial Markets: Evidence from Newspaper Strikes

The media are increasingly recognized as key players in financial markets. I investigate their causal impact on trading and price formation by examining national newspaper strikes in several countries. Trading volume falls 12% on strike days. The dispersion of stock returns and their intraday volati...

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Veröffentlicht in:	The Journal of finance (New York) 2014-10, Vol.69 (5), p.2007-2043
1. Verfasser:	PERESS, JOEL
Format:	Artikel
Sprache:	eng
Schlagworte:	Capital market Certificates of deposit Efficient markets Financial markets Investors Media News content News media P values Press Rates of return Securities markets Statistical median Stock exchange Stock markets Stock prices Stock returns Strikes Studies Volatility
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