We study how government control affects the roles of the media as an information intermediary and a corporate monitor. Comparing a large sample of news articles written by state-controlled and market-oriented Chinese media, we find that articles by the market-oriented media are more critical,...

We examine the effect of media coverage on firm innovation. Using a comprehensive sample of corporate news coverage and patenting activities over the period from 2000 to 2012, we find a negative relation between media coverage and firm innovation. We further document the two offsetting economic...

We study the impact of political relations on media coverage. Using a sample of 3,290 American Depository Receipts (ADRs) from 45 countries, we find that poor political relations between the US and an ADR firm’s home country induce negative coverage by the US media of the ADR firm. To...