Media Coverage and the Cross-section of Stock Returns

By reaching a broad population of investors, mass media can alleviate informational frictions and affect security pricing even if it does not supply genuine news. We investigate this hypothesis by studying the cross-sectional relation between media coverage and expected stock returns. We find that s...

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Veröffentlicht in:	The Journal of finance (New York) 2009-10, Vol.64 (5), p.2023-2052
Hauptverfasser:	FANG, LILY, PERESS, JOEL
Format:	Artikel
Sprache:	eng
Schlagworte:	Analytical forecasting Correlation analysis Expected returns Financial economics Financial information Financial portfolios Information dissemination Investors Journalism Liquidity Mass media Media Media coverage News Securities prices Stock exchanges Stock ownership Stock prices Stocks Studies Volatility
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