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Cited by 1,956

The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.

Media Coverage and the Cross‐section of Stock Returns

Open access
FANG, LILY, PERESS, JOEL·2009·The Journal of Finance
DOI 10.1111/j.1540-6261.2009.01493.x
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Abstract

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 stocks with no media coverage earn higher returns than stocks with high media coverage even after controlling for well‐known risk factors. These results are more pronounced among small stocks and stocks with high individual ownership, low analyst following, and high idiosyncratic volatility. Our findings suggest that the breadth of information dissemination affects stock returns.

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Crossref · 10.1111/j.1540-6261.2009.01493.x

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Metadata

Authors
FANG, L., & PERESS, J.
Venue
The Journal of Finance
Publisher
Wiley
Published
2009-09-28
Volume
64
Issue
5
Pages
2023-2052
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2009.01493.x
OpenAlex
W3125591525
Cited by
1,956
References
4
FWCI
85.16
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Media Coverage and the Cross‐section of Stock Returns. https://app.cochat.ai/papers/10.1111/j.1540-6261.2009.01493.x
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FANG, L., & PERESS, J. (2009). Media Coverage and the Cross‐section of Stock Returns. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2009.01493.x

Data sources

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.