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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Bibliographic Details
Published in:The Journal of finance (New York) 2014-10, Vol.69 (5), p.2007-2043
Main Author: PERESS, JOEL
Format: Article
Language:English
Subjects:
1989-2010
Arbeitskampf
Börsenkurs
Capital market
Certificates of deposit
Diffusion
Dissemination
Efficient markets
Financial markets
Finanzmarkt
Information dissemination
Informationsverbreitung
Investors
Mass media
Media
Mediale Berichterstattung
News content
News media
OECD-Staaten
P values
Press
Prices
Rates of return
Securities markets
Statistical median
Stock exchange
Stock exchanges
Stock markets
Stock prices
Stock returns
Strikes
Studies
Volatility
Wirtschaftsinformation
Zeitung
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