The Causal Impact of Media in Financial Markets

By Joseph E. Engelberg, Christopher A. Parsons. 2011

1,026 citations recorded by the source corpus.

Subfields: Accounting, Finance, Sociology and Political Science

View Paper: https://www.semanticscholar.org/paper/f167db86fdc9b4f1035096646d06c404b0a04e09

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In Accounting

1. Nicholas Barberis
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3. Sarah L. C. Zechman
4. Guiyang Xiong
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In Finance

1. Heiko Jacobs
2. Nicholas Barberis
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In Sociology and Political Science

1. D. Sosyura
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Citations in the corpus

• Local Investors and Corporate Governance (2012, neutral): “In addition, the local media is likely to provide greater coverage of local firms and increase the awareness of those firms among local investors, including institutions (e.g., Engelberg and Parsons, 2011; Gurun and Butler, 2012).”
• Media Makes Momentum (2014, background): “Coverage in popular newspapers catches investors attention (e.g. Engelberg and Parsons (2011), Solomon, Soltes, and Sosyura (2013)) and may also be seen as an indicator that a firm is in the spotlight of public discussion.”
• Psychology-based Models of Asset Prices and Trading Volume (2018, background): “Attention is likely strongly affected by media coverage, and a sizable literature examines the impact of the media on financial markets (Tetlock, 2007; Engelberg and Parsons, 2011; Tetlock, 2015).”
• Asymmetric Roles of Advertising and Marketing Capability in Financial Returns to News: Turning Bad into Good and Good into Great (2013, background): “Similarly, Engelberg and Parsons (2011) show that news reports strongly affect trading activities after controlling for earnings, investor attributes, and the nature of the reported events.”
• The Role of the Media in Takeovers: Theory and Evidence (2015, neutral): “In the empirical analysis, this paper uses the näıve Bayes model to quantify text2See, for example, Tetlock et al. (2008), Fang and Peress (2009), Dyck et al. (2008), and Engelberg and Parsons (2011). based information.”
• Home Away From Home: Geography of Information and Local Investors (2015, methodology): “Further, in the last six columns of Panel A, we augment all the models by adding the national Fama and French (1992) and Carhart (1997) factors.”
• customers as advisors: the role of social media in financial markets (2011, neutral): “…contributes to the growing body of literature that examines the media’s effect on stock markets (e.g., Barber and Loeffler (1993); Busse and Green (2002); Antweiler and Frank (2006); Tetlock (2007); Engelberg (2008); Tetlock et al. (2008); Fang and Peress (2009); Engelberg and Parsons (2011)).”
• Media Content and Stock Returns: The Predictive Power of Press (2015, neutral): “Another branch of studies shows that the amount of news media coverage reduces firms’ expected returns (Fang and Peress, 2009; Peress, 2014) and stimulates local trading (Engleberg and Parsons, 2011).”