The Role of the Media in Corporate Governance: Do the Media Influence Managers’ Capital Allocation Decisions?

By Baixiao Liu, John J. Mcconnell. 2012

416 citations recorded by the source corpus.

Subfields: Accounting, Finance

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Shavin Malhotra
2. T. Reus
3. S. Pavićević
4. E. Roelofsen
5. Colm Kearney
6. Xena Welch
7. Thomas Keil
8. Camila C. Pereira

In Finance

1. T. Reus
2. E. Roelofsen
3. Colm Kearney
4. Camila C. Pereira
5. Shan Liu
6. Shavin Malhotra
7. Pengcheng Zhu
8. T. Laamanen

Citations in the corpus

• Textual Sentiment in Finance: A Survey of Methods and Models (2014, background): “The L&M lists have become predominant in more recent studies by Doran et al. (2010), Huang et al. (2011), Ferguson et al. (2012), Garcia (2012), Jegadeesh and Wu (2012), Chen et al. (2013), Liu and McConnell (2013), and Loughran and McDonald (2013a).”
• The Acquisitive Nature of Extraverted CEOs (2017, background): “M&As generally prompt the involvement of many parties, including boards, consultants, lawyers, regulators, and target firm members, and they attract considerable media attention (e.g., Liu and McConnell, 2013).”
• Textual analysis in finance (2019, methodology): “Since its release, the finance literature widely explores their dictionary (Garćıa, 2013; Liu and McConnell, 2013; Ferguson et al., 2015; Agarwal et al., 2016; Tsai et al., 2016; Bajo and Raimondo, 2017; Fraiberger et al., 2018).”
• The Governance Effect of the Media's News Dissemination Role: Evidence from Insider Trading (2015, neutral): “Moreover, the ability to exercise discretionary trading in the future is valuable to insiders because it allows them to sell for consumption (Roulstone [2003]) and rebalance their personal portfolio for hedging purposes (Ofek and Yermack [2000]).”
• The Pre-Deal Phase of Mergers and Acquisitions: A Review and Research Agenda (2020, background): “The level and tone of media attention to the proposed transaction can also shape managers’ decisions on whether to complete or abandon a deal (J. Liu & McConnell, 2013).”
• New Evidence on the Role of the Media in Corporate Social Responsibility (2016, neutral): “The media may also increase the likelihood that corporate governance violations are reversed (Dyck et al. 2008) and the likelihood that valuereducing acquisitions are abandoned (Liu and McConnell 2013).”
• Does the media spotlight burn or spur innovation? (2020, neutral): “In particular, Liu and McConnell (2013) find that the media encourages managers to make appropriate investment decisions in takeover markets.”