We examine five summer Olympics and identify stocks that media outlets hype as benefiting from the Olympics (Olympic stocks). We find that Olympic stocks exhibit increases in comovement of returns after the announcement of the winning bid and declines in comovements after the games are played,...

Research on media and finance has recently gained momentum due to the importance of information in the pricing process. This study systematically reviews the literature on the role of media in finance, in general, and on the relationship between media coverage and various aspects of mergers and...

This study investigates the effect of media coverage on stock liquidity in the Chinese stock market. Media coverage has a significant positive effect on stock liquidity. Media coverage improves stock liquidity by improving the information environment and reducing adverse selection by investors....