The DOI matches its Crossref record; 27 of the 27 references it cites were found in a registry or an index.
The Role of the Business Press as an Information Intermediary
Open accessAbstract
This paper investigates whether the business press serves as an information intermediary. The press potentially shapes firms' information environments by packaging and disseminating information, as well as by creating new information through journalism activities. We find that greater press coverage reduces information asymmetry (i.e., lower spreads and greater depth) around earnings announcements, with broad dissemination of information having a bigger impact than the quantity or quality of press‐generated information. These results are robust to controlling for firm‐initiated disclosures, market reactions to the announcement, and other information intermediaries. Our findings suggest that the press helps reduce information problems around earnings announcements.
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Cites
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Stock price reaction to news and no-news: drift and reversal after headlines
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Cited by
LEUZ, C., & WYSOCKI, P. D. (2016) · Journal of Accounting Research · doi:10.1111/1475-679x.12115 · Cited by 1,760
Disclosure processing costs, investors’ information choice, and equity market outcomes: A review
Blankespoor, E., deHaan, E., & Marinovic, I. (2020) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2020.101344 · Cited by 1,076
Kothari, S. P., Li, X., & Short, J. E. (2009) · The Accounting Review · doi:10.2308/accr.2009.84.5.1639 · Cited by 1,019
Nagar, V., Schoenfeld, J., & Wellman, L. (2019) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2018.08.011 · Cited by 674
The economic consequences associated with integrated report quality: Capital market and real effects
Barth, M. E., Cahan, S. F., Chen, L., & Venter, E. R. (2017) · Accounting, Organizations and Society · doi:10.1016/j.aos.2017.08.005 · Cited by 602
Metadata
- Authors
- BUSHEE, B. J., CORE, J. E., GUAY, W., & HAMM, S. J. W.
- Venue
- Journal of Accounting Research
- Publisher
- Wiley
- Published
- 2010-01-15
- Volume
- 48
- Issue
- 1
- Pages
- 1-19
- ISSN
- 0021-8456 (ISSN-L)
- 1475-679X
- OpenAlex
- W3123947178
- Cited by
- 1,112
- References
- 27
- FWCI
- 74.18
- Type
- journal article
- Language
- en
- Open access
- green
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
