Is More News Good News? Media Coverage of CEOs, Firm Value, and Rent Extraction

2011 ◽  
Author(s):  
Bang Dang Nguyen
Keyword(s):  
News Media ◽  
Media Coverage ◽  
Firm Value ◽  
Good News ◽  
Rent Extraction

Is More News Good News? Media Coverage of CEOs, Firm Value, and Rent Extraction

2015 ◽  
Vol 05 (04) ◽  
pp. 1550020 ◽  
Author(s):  
Bang Dang Nguyen
Keyword(s):  
Stock Returns ◽  
Empirical Evidence ◽  
News Media ◽  
Media Coverage ◽  
Firm Value ◽  
Good News ◽  
Rent Extraction ◽  
Tobin's Q ◽  
Econometric Methods ◽  
Abnormal Stock Returns

This paper provides empirical evidence that media coverage of CEOs, a channel of investor recognition, significantly increases firm value, measured by Tobin’s q. The result is robust to alternative econometric methods and checks of causality. Firms with the highest level of CEO media coverage and positive coverage outperform those with the lowest levels by 8% and 7% per year, respectively, in abnormal stock returns. Media coverage also impacts CEO rent extraction through compensation. Subsequent total pay rise is 4.1% above and beyond what CEOs obtain from the increase in firm value that arises due to media coverage.

News Media Organisations and Oil Spill Coverage

2003 ◽  
Vol 2003 (1) ◽  
pp. 353-356
Author(s):  
Alison G. Anderson
Keyword(s):  
News Media ◽  
Media Coverage ◽  
Online Survey ◽  
Editorial Policy ◽  
Good News ◽  
News Story ◽  
Sources Of Information ◽  
Scientific Training ◽  
The Impact ◽  
News Groups

ABSTRACT The news media play a key role in framing the media coverage of oil spills. It is imperative that scientists, industry and policymakers are fully tuned into the ways in which current news organisations operate. Over recent years, a growing environmental promotion industry has emerged, alongside an increasing emphasis on environmental advocacy within the commercial sector. A number of information crises (notably, the Exxon Valdez disaster in 1989) have forced sections of industry to take a more proactive approach to environmental communications as potent media imagery has directly contradicted assurances that environmental protection is not compromised by their activities. Particular issues or events that capture attention tend to be highly visually appealing and resonate with deeply held beliefs and values that operate at a symbolic level. This paper examines the preliminary findings of an international online survey of environmental reporting distributed to key environmental journalist news groups and generalist journalist news groups during June and July 2002. In particular, it focuses upon the following: journalists’ views about what makes a newsworthy story; their degree of scientific training; the constraints under which they work; their main sources of information; their relationships with news sources; and the impact of editorial policy. Interviews with environment correspondents reveal that relatively few possess scientific training and they tend to rely heavily upon official sources of information. The news agendas of broadcasters closely mirror that of print journalists and there is remarkable consensus concerning ‘news values’ – the taken for granted notions about what constitutes a ‘good’ news story. Having presented the main findings of the survey, the paper concludes by arguing that what is needed is greater communication between scientists, industry and journalists leading to an increased mutual recognition of the specific constraints under which they operate.

scholarly journals Media And Cultural Heritage

2015 ◽  
Vol 1 (1) ◽  
Author(s):  
Inge Hutagalung
Keyword(s):  
Cultural Heritage ◽  
News Media ◽  
Agenda Setting ◽  
Media Coverage ◽  
News Coverage ◽  
Good News ◽  
Media Report ◽  
Amplifying Effect ◽  
The Media ◽  
Setting Theory

In general, media coverage can have a strong influence on the reputation of a cultural heritage. Media coverage often has an effect on a cultural heritage’s reputation when ‘good’ or ‘bad’ news is reported.This amplifying effect has often been studied through the lens of agenda setting theory. The hypothesis behind the theory is that the frequency with the media report on an issue determines that issues’ salience in the minds of the general public. In other words, the media may not be successful often time in telling people what to think, but it is stunningly successful in telling its readers what to think about. The news media ‘set’ the public agenda.Since people cannot possibly attend no to every little detail about the cultural heritage around them, setting in communication is important because it helps shape the perspectives through which people see all cultural heritage in the world.In generating good news coverage about a cultural heritage, communicating with the media is one of important activities that should be maintained between communication professionals (in cultural heritage) with journalists. Keywords: media coverage, agenda setting, framing news

Issue ownership as a determinant of political parties’ media coverage

2018 ◽  
Vol 43 (1) ◽  
pp. 25-45 ◽  
Author(s):  
Kirsten Van Camp
Keyword(s):  
Content Analysis ◽  
Political Parties ◽  
News Media ◽  
Media Coverage ◽  
Television News ◽  
News Coverage ◽  
Good News ◽  
Issue Ownership ◽  
News Sources ◽  
Source Of Information

Abstract For many citizens, news media are the most important source of information about relevant political topics and actors. As a consequence, it is crucial to investigate who gains media coverage and why. Leaning on two classic news sourcing criteria, suitability and availability, we claim that issue owners can be seen as good news sources. By combining a content analysis of television news with data collected through a journalist survey, we investigate whether issue ownership is a determinant of political parties’ news coverage. Results confirm that issue ownership is a predictor of parties’ news coverage, even when controlling for ministerial competences.

Do Auditors Respond to Media Coverage? Evidence from China

2018 ◽  
Vol 32 (3) ◽  
pp. 169-194 ◽  
Author(s):  
Stephen X. Gong ◽  
Ferdinand A. Gul ◽  
Liwei Shan
Keyword(s):  
News Media ◽  
Media Coverage ◽  
News Coverage ◽  
Positive Association ◽  
Audit Fees ◽  
Good News ◽  
High Coverage ◽  
Listed Firms ◽  
Financial News ◽  
Using Data

SYNOPSIS This paper examines whether news coverage of client firms is associated with their audit fees. Using data from China listed firms during 2004–2013, we find that high coverage client firms are on average charged higher audit fees, irrespective of the media tone. This positive association is stronger for large auditors than for small auditors, and for bad news than for good news. The main results hold for both state-owned enterprises (SOEs) and non-SOEs, and for both politically connected and non-connected firms. The results are robust after controlling for the effects of information asymmetry, auditor choice, internal corporate governance, and alternative measurements of the key variables. Overall, our evidence is supportive of the view that auditors assess high coverage clients as higher risk audits requiring greater audit efforts. We conclude that the financial news media plays a disciplining role in China through its potential to trigger reputational sanctions and regulatory action.

The Effect of Underreaction and Overreaction of Firm Stocks to Firm Valuation: Data from the Indonesian Stock Exchange

2019 ◽  
Author(s):  
Yohanes Indrayono
Keyword(s):  
Behavioral Finance ◽  
Firm Value ◽  
Intangible Assets ◽  
Stock Exchange ◽  
Investor Sentiment ◽  
Firm Valuation ◽  
Good News ◽  
Industrial Sectors ◽  
Tangible Assets ◽  
Firm Profitability

<p>This study contributes to the on-going studies on behavioral finance by providing a case study on underreaction and overreaction of firm stocks to firm valuation. We use the Model of Investor Sentiment (Barberis et al., 2005) to evaluate underreaction and overreaction behavior and reflect on specific findings in the Indonesian market. The result of the study is most of the stocks in the Indonesian Stock Exchange are more overreaction to the news of firm financial statements. Firms on the industry with more intangible assets measure more overreaction than firms on industries with more tangible assets. For stocks with overreaction, the stock firm value is positively affected by a change in the total assets and profitability, but not by change of book value. The result concretized no evidence that firm stocks overreacted to the news more than underreacting. In stock industrial sectors, the financial institutions and wholesale industry stocks demonstrated remarkable overreactions. Nonetheless, automotive, building construction, food and beverage as well as cement evidenced more underreaction. For better return in financial markets, investors may buy stocks of the firm on industry with more tangible assets when there is no good news about the increasing firm profitability and sales; nonetheless, they should buy stocks of the firm on industry with more intangible assets when there is no lousy news about the increasing firm profitability and sales. </p>

Welcome to the Party

2018 ◽  
Author(s):  
Khadijah Costley White
Keyword(s):  
Social Movement ◽  
Political Communication ◽  
News Media ◽  
Media Coverage ◽  
News Coverage ◽  
Tea Party ◽  
Audience Appeal

This chapter lays out the Tea Party’s history as a mass-mediated construction in the context of journalism, political communication, and social movement studies. It argues that the news coverage of the Tea Party primarily chronicled its meaning, appeal, motivations, influence, and circulation—an emphasis on its persona more than its policies. In particular, the news media tracked the Tea Party as a brand, highlighting its profits, marketability, brand leaders, and audience appeal. The Tea Party became a brand through news media coverage; in defining it as a brand, the Tea Party was a story, message, and cognitive shortcut that built a lasting relationship with citizen-consumers through strong emotional connections, self-expression, consumption, and differentiation.

scholarly journals Associations between News Media Coverage of the 11 September Attacks and Depression in Employees of New York City Area Businesses

2021 ◽  
Vol 11 (3) ◽  
pp. 29
Author(s):  
Betty Pfefferbaum ◽  
Jayme M. Palka ◽  
Carol S. North
Keyword(s):  
New York ◽  
New York City ◽  
News Media ◽  
York City ◽  
Media Coverage ◽  
Structured Interviews ◽  
Mass Trauma ◽  
High Prevalence ◽  
General Populations ◽  
Disaster Trauma

Research has examined the association between contact with media coverage of mass trauma events and various psychological outcomes, including depression. Disaster-related depression research is complicated by the relatively high prevalence of the major depressive disorder in general populations even without trauma exposure. The extant research is inconclusive regarding associations between disaster media contact and depression outcomes, in part, because most studies have not distinguished diagnostic and symptomatic outcomes, differentiated postdisaster incidence from prevalence, or considered disaster trauma exposures. This study examined these associations in a volunteer sample of 254 employees of New York City businesses after the 11 September 2001, terrorist attacks. Structured interviews and questionnaires were administered 35 months after the attacks. Poisson and logistic regression analyses revealed that post-9/11 news contact significantly predicted the number of postdisaster persistent/recurrent and incident depressive symptoms in the full sample and in the indirect and unexposed groups. The findings suggest that clinical and public health approaches should be particularly alert to potential adverse postdisaster depression outcomes related to media consumption in disaster trauma-unexposed or indirectly-exposed groups.

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