This paper studies the effect of investor sentiment on the London stock market on a daily basis over the period 1899 to 2010. We use a broad mix of reporting from the Financial Times as our proxy for investor sentiment. The main contribution of this paper is threefold. First, newspaper...

We investigate whether unpleasant environmental conditions affect stock market participants' responses to information events. We draw from psychology research to develop a new prediction that weather-induced negative moods reduce market participants' activity levels. Exploiting geographic...

Using a novel, hand-collected dataset of a popular financial TV show and intra-day trading data from China, we compare the trading, liquidity, and returns of on-the-show and off-the-show stocks from the same industry. Employing a difference-in-difference approach, we find that off-the-show...

Using hand-collected TV programming data and intra-day trading from China, we compare the trading, liquidity, and returns of on-show and off-show stocks in the same sector. Our difference-in-difference analysis reveals that post-show, off-show stocks experience significant improvements in...

Does investors' inattention contribute to the post-earnings announcement drift? I study this question using media coverage as a proxy for attention. I compare announcements made by the same firm in the same year and generating the same earnings surprise, when one announcement is covered in the...

Using hand-collected TV programming data and intra-day trading data from China, we compare the trading, liquidity, and returns of on-show and off-show stocks in the same sector. Our difference-in-difference analysis reveals that post-show, off-show stocks experience significant improvements in...

This paper uses the intensity of media coverage and trading records of retail investors to investigate the effect of media coverage on stock price bubbles. My analysis is based on a sample of intraday transactions from Chinese stock market and China Core Newspapers Full-text Database. In the...

This paper examines how news media affects stock prices and trading volumes in comparison with other information intermediaries over five years from 1 January 2006 to 31 December 2010. Trading volume and price changes of 100 small-cap stocks are analysed after a story appears about them in the...