The DOI matches its Crossref record; 60 of the 60 references it cites were found in a registry or an index.
The Media and Mispricing: The Role of the Business Press in the Pricing of Accounting Information
Open accessAbstract
This study investigates the role of the business press in the pricing of accounting information. Using a comprehensive dataset of more than 111,000 earnings-related business press articles published from 2000 to 2010, we find that press coverage of the annual earnings announcement mitigates cash flow mispricing, but has a negligible effect on accrual mispricing. We provide evidence that this impact is driven primarily by the press disseminating the information more broadly, rather than by the creation of new content that helps investors understand the implications of accounting information. Our results suggest that the business press plays an important role in facilitating the market's ability to efficiently impound accounting information into stock prices and provide new insights into the role of the business press as an information intermediary in capital markets.
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Giving content to investor sentiment: The role of media in the stock market
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Cited by
Do Firms Strategically Disseminate? Evidence from Corporate Use of Social Media
Jung, M. J., Naughton, J. P., Tahoun, A., & Wang, C. (2018) · The Accounting Review · doi:10.2308/accr-51906 · Cited by 380
Capital market effects of media synthesis and dissemination: evidence from robo-journalism
Blankespoor, E., deHaan, E., & Zhu, C. (2018) · Review of Accounting Studies · doi:10.1007/s11142-017-9422-2 · Cited by 299
Metadata
- Authors
- Drake, M. S., Guest, N. M., & Twedt, B. J.
- Venue
- The Accounting Review
- Publisher
- American Accounting Association
- Published
- 2014-03-01
- Volume
- 89
- Issue
- 5
- Pages
- 1673-1701
- ISSN
- 0001-4826 (ISSN-L)
- 1558-7967
- OpenAlex
- W3125187480
- Cited by
- 365
- References
- 60
- FWCI
- 61.23
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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