| 题名 | Media coverage and price reactions to earnings news |
| 作者 | |
| 通讯作者 | Yu, Miao |
| 发表日期 | 2024-09-01
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| DOI | |
| 发表期刊 | |
| ISSN | 1755-3091
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| 卷号 | 17期号:3 |
| 摘要 | In this study, we find that relative to firms with less media coverage, stock price sensitivity to positive (negative) earnings surprises in earnings announcements of firms with greater media coverage is stronger (weaker). This asymmetry in the effect of media coverage on stock price sensitivity to positive versus negative earnings surprises suggests that greater media coverage of earnings announcements intensifies stock price reactions to positive earnings surprises but attenuates reactions to negative earnings surprises. Moreover, we find that negative earnings news is less persistent for firms with greater media coverage. Overall, our findings support the conjecture that greater media coverage increases managers' incentive to avoid future negative news, thereby reducing the persistence of poor financial performance and weakening price reactions to negative earnings news. (c) 2024 Sun Yat-sen University. Production and hosting by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). |
| 关键词 | |
| 相关链接 | [来源记录] |
| 收录类别 | |
| 语种 | 英语
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| 学校署名 | 其他
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| WOS研究方向 | Business & Economics
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| WOS类目 | Business, Finance
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| WOS记录号 | WOS:001289337500001
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| 出版者 | |
| 来源库 | Web of Science
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| 引用统计 | |
| 成果类型 | 期刊论文 |
| 条目标识符 | http://sustech.caswiz.com/handle/2SGJ60CL/803269 |
| 专题 | 南方科技大学 |
| 作者单位 | 1.Shandong Univ Finance & Econ, Sch Accountancy, Jinan, Peoples R China 2.Hong Kong Polytech Univ, Sch Accounting & Finance, Hong Kong, Peoples R China 3.Southern Univ Sci & Technol, SUSTech Business Sch, Shenzhen 518000, Peoples R China |
| 推荐引用方式 GB/T 7714 |
Yu, Miao,Kyung, Hangsoo,Tsang, Albert. Media coverage and price reactions to earnings news[J]. CHINA JOURNAL OF ACCOUNTING RESEARCH,2024,17(3).
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| APA |
Yu, Miao,Kyung, Hangsoo,&Tsang, Albert.(2024).Media coverage and price reactions to earnings news.CHINA JOURNAL OF ACCOUNTING RESEARCH,17(3).
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| MLA |
Yu, Miao,et al."Media coverage and price reactions to earnings news".CHINA JOURNAL OF ACCOUNTING RESEARCH 17.3(2024).
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| 条目包含的文件 | 条目无相关文件。 | |||||
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