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Cited by 481

The DOI matches its Crossref record; 84 of the 84 references it cites were found in a registry or an index.

Who Writes the News? Corporate Press Releases during Merger Negotiations

Open access
AHERN, KENNETH R., SOSYURA, DENIS·2014·The Journal of Finance
DOI 10.1111/jofi.12109
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Abstract

Firms have an incentive to manage media coverage to influence their stock prices during important corporate events. Using comprehensive data on media coverage and merger negotiations, we find that bidders in stock mergers originate substantially more news stories after the start of merger negotiations, but before the public announcement. This strategy generates a short‐lived run‐up in bidders' stock prices during the period when the stock exchange ratio is determined, which substantially impacts the takeover price. Our results demonstrate that the timing and content of financial media coverage may be biased by firms seeking to manipulate their stock price.

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Metadata

Authors
AHERN, K. R., & SOSYURA, D.
Venue
The Journal of Finance
Publisher
Wiley
Published
2014-01-07
Volume
69
Issue
1
Pages
241-291
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/jofi.12109
OpenAlex
W3042875708
Cited by
481
References
84
FWCI
105.46
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Who Writes the News? Corporate Press Releases during Merger Negotiations. https://app.cochat.ai/papers/10.1111/jofi.12109
The paper
AHERN, K. R., & SOSYURA, D. (2014). Who Writes the News? Corporate Press Releases during Merger Negotiations. The Journal of Finance. https://doi.org/10.1111/jofi.12109

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.