We investigate the relation between media coverage and the trading behavior of short sellers around earnings announcements, an event which garners significant market attention. Prior research finds conflicting evidence on the role of the media in the price discovery process. We find that short...

This study examines whether firms’ political activism induces bias in the media’s coverage of earnings announcements and how such coverage impacts markets. We infer firm political ideology based on employee political contributions, and identify firm and manager characteristics associated...

Berkman, Dimitrov, Jain, Koch, and Tice (2009) document a negative relation between differences of opinion and earnings announcement returns, and this relation is more pronounced when short sale constraints are likely to be high. These findings are interpreted as support for the theory in Miller...