more negative media sentiment are more likely to be targeted by hedge funds. The media sentiment of target firms reverts to … normal level after the 13D filing dates. Our analysis of media sentiment for different corporate events shows that event …-specific media sentiment is associated with the specific objectives of activism campaigns. The firm's fundamental information …

This paper examines the role played by the media in the shareholder proposal process. We find a positive relation … between media coverage and the likelihood to be targeted by governance proposals. The effect is mostly concentrated in … proposals submitted by non-institutional shareholders and driven by negative news. Negative media coverage is also associated …

This paper examines how news media affects stock prices and trading volumes in comparison with other information … support the hypothesis that media has the greatest effect on price changes expressed through abnormal returns and volatility …-grabbing effects and the likelihood that private information is most often released through rumour in the media. It also indicates that …

This paper examines how external governance pressure from the media affects capital structure. Using a comprehensive … set of corporate news, we find a negative relation between media coverage and financial leverage. An instrumental variable … shareholder monitoring is weaker. We further find that the effect of media coverage is more pronounced for news related to …

We examine the impact of the media on firms' leverage adjustments. Using a comprehensive sample of global news across … adjustment speeds. This finding is consistent with the argument that media coverage and content help lower the cost of firms …' adjustment toward target leverage. We further find evidence supporting two mechanisms through which the news media affects …

We study how media coverage impacts pricing of IPOs around the world. Higher media coverage in the pre-IPO period leads … shareholder rights protection, and more stringent media censorship, and for IPOs “certified” by reputable intermediaries, while it … is amplified in countries with higher levels of media penetration and media trust. Further, IPOs with higher pre …

We examine the influence of political connections on media slant for a sample of Chinese listed firms. We find that … association is more pronounced when firms are located in provinces with more government intervention and when the media are state …-controlled (compared with market-oriented media). We further examine two explanations for the positive association between political …

, we investigate whether media slant influences the investment decisions of short sellers. We find that firms headquartered … slant in media coverage …

We study the impact of political relations on media coverage. Using a sample of 3,290 American Depository Receipts … negative coverage by the US media of the ADR firm. To alleviate endogeneity, we adopt France’s and Germany’s opposition to the …-US media coverage or such an effect not driven by firms’ US sales. We further document the three economic mechanisms underlying …

Drawing on both a managerial-discipline perspective and an information-intermediary perspective, we explore how media … China from 2003–2006, we find that firms in which controlling shareholders receive more neutral media reports enjoy higher … valuation, whereas negative media reports on controlling shareholders impose adverse effects on firm valuation. Interestingly …