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News media plays an important role in modern financial markets. In this paper, we analyse the role played by the news … media in an historical financial market. Using The Times's coverage of companies listed on the London stock market between … 1825 and 1870, we examine the determinants of media coverage in this era and whether there was a media discount. Our main …
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This paper investigates whether newspapers report more favorably about advertising corporate clients than about other firms. Our identification strategy based on high-dimensional fixed effects and high frequency advertising data shows that advertising leads to more positive press coverage. This...
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