I show that news editors have state-dependent preference for different types of firms. Using the New York Times data and natural language processing techniques, I estimate the loadings of media coverage on eight common features of firms and construct the corresponding editor preference. I find...

Material news events can be potentially important sources of jumps in stock returns. We collect 21 million news articles associated with more than 9,000 publicly-traded companies and use textual analyses to derive measures to summarize the news. We find that stock return jumps (including...

This research evaluates if the media coverage from newspaper affect Indonesia's securities markets in the way that the more coverage a stock get, the lower the return will be and the less coverage, or even no coverage a stock get, the higher the return will be. If it is found, then the causes...