Social Media has been a popular platform for individuals to share their opinions of financial markets. Meanwhile, journalists and analysts contribute to news media to express their analysis on financial securities. This research compares the effect of opinions expressed via social media and news...

I examine how financial markets interact with news about the COVID-19 pandemic. A twelve topic model optimizes the trade-off between number of topics and topic coherence. Using this model, I show that before mid-March 2020 markets react more to the same quantum of news when volatility is higher...

The media has an incentive to publish sensational news. We study how this incentive affects the accuracy of media coverage in the context of merger rumors. Using a novel dataset, we find that accuracy is predicted by a journalist's experience, specialized education, and industry expertise....

"Coronavirus News, Markets and AI explores the analysis of unstructured data from coronavirus related news and the underlying sentiment during its real-time impact on the world and on global financial markets, in particular. In an age where information, both real and fake, travels in the blink...

This paper investigates whether newspapers report more favorably about advertising corporate clients than about other firms. Our identification strategy based on high-dimensional fixed effects and high frequency advertising data shows that advertising leads to more positive press coverage. This...