This paper examines the extent to which local newspaper closures affect discrimination against minority borrowers in mortgage lending. I Ąnd that following a newspaper closure, interest rate differentials between minority (black or Hispanic) and comparable non-minority borrowers increase by 5.5...

This paper proposes a novel methodology to identify the geographic market of local newspapers when information on their diffusion is not available or is not sufficiently granular. We illustrate the methodology using historical data from 154 newly digitized newspapers published in Italy between...

In this study, we propose a novel approach to detect supply-side media bias, independent of external factors like ownership or editors' ideological leanings. Analyzing over 100,000 articles from The New York Times (NYT) and The Wall Street Journal (WSJ), complemented by data from 22 million...

Previous literature has suggested that newspaper publishers should optimize how they advertise their online subscriptions. However, empirical findings on the effectiveness of advertising messages in increasing people’s willingness to pay for such online subscriptions are still rare. Therefore,...

This research examines the impact of the Covid-19 pandemic on the newspaper business model innovation (BMI). The results of this study prove that the impact of the pandemic has a positive effect on BMI. The impact of the pandemic has also been shown to have a positive influence on newspapers...

Does media coverage of a firm have a causal effect on the volatility of its stock price and, if so, is this of aggregate importance? This paper identifies a robust link between media coverage in the Financial Times print newspaper and a firm's intra-day stock price volatility. This effect is not...

This paper quantifies mainstream media coverage of Bitcoin to understand how a once niche interest entered public culture. From 2011 to 2022, five key narratives are identified as criminality, culture, politics, price and technology. Price, politics, and culture have become more prominent in...

Does media coverage of a firm have a causal effect on the volatility of its stock price and, if so, is this of aggregate importance? This paper identifies a robust link between media coverage in the Financial Times print newspaper and a firm’s intra-day stock price volatility. This effect is...

We examine whether the local press is an effective governance mechanism for monitoring and inhibiting financial adviser misconduct. Using local newspaper closure as a negative shock to the local press, we find that financial advisers who are located in counties with newspaper closures are more...

We develop a new monthly indicator of supply bottlenecks using newspaper articles. The supply bottlenecks index (SBI) provides a consistent narrative of supply issues related to wars, natural disasters, strikes and, most recently, the COVID-19 pandemic. Innovations in the SBI have important...

The digitization of content has led to the emergence of platforms that draw information from multiple sources. This paper investigates whether aggregation of content by a single platform encourages users to “skim” content or to investigate it in depth. We study a contract dispute that led a...

We measure immigrant narratives in German newspapers and assign each sentence to one of seven themes. Using natural language processing (NLP) tools and customized dictionaries, we analyze over 100,000 articles. 45 percent of narratives are on Foreign Religion, 23 percent on Cultural Integration,...

Using newly digitized data on the growth of the telegraph network in America during 1840-1852, the paper studies the impacts of the electric telegraph on national elections. I use proximity to daily newspapers with telegraphic connections to Washington to generate plausibly exogenous variation...

We study the effect of a corruption reflection index on internal conflict in Iran using a novel measure of corruption based on newspaper coverage. We use the Vector Autoregression (VAR) model and its applied tools of impulse response and variance decomposition analyses to track the response of...

We examine changes in bank loan contracts after borrowers experience a nearby local newspaper closure. Compared to a sample of control firms, we find that the closure of a local newspaper leads to higher interest spreads for borrowers. The effect is stronger when the local newspaper is more...

Immigration is one of the most divisive political issues in many countries today. Competing narratives, circulated via the media, are crucial in shaping how immigrants' role in society is perceived. We propose a new method combining advanced natural language processing tools with dictionaries to...

Do media slant news in favor of the banks they borrow from? We study how lending connections affect news coverage of banks earnings reports and of the Eurozone sovereign debt crisis on major newspapers from several European countries. We find that newspapers cover announcements by their lenders...

This article presents a theoretical model of the strategic interaction between a newspaper and a digital platform. For a broad range of consumer preferences, entry by the digital platform causes the newspaper to reduce its readership, quality and advertising, and also to lose advertising...

This paper estimates the persuasive effect of newspaper presidential endorsements on its readers over five elections during the peak of U.S. newspaper circulation (1960-1980), during which time the vast majority of newspaper endorsements were for the Republican candidate. I find that newspaper...

We study the impact of the first American party committed to redistribution from rich to poor on anti-Black media content in the 1890s. The Populist Party sought support among poor farmers, regardless of race, providing the segregationist Democratic establishment in the South with an incentive...

This paper discusses how established industries adapt to digital transformation. While digitalisation is perceived as an impetus for change, either due to the opportunities or threats it brings about, not all industries are able to change unlimitedly. We seek to understand digital transformation...

The effectiveness of regulator activity, such as inspections and audits, increases with the deterrence effects triggered by such activity. Deterrence can be increased through information dissemination (e.g., newspaper coverage) about regulator activity. I combine detailed inspection data from...

Media have been shown to produce corporate information to stakeholders and monitor firms’ misconducts, but little is known about the role of media in producing decision-useful public information to firm managers. To shed light on this issue, I employ local newspaper closures as a plausibly...

Through the recent Directive on Copyright in the Digital Single Market, the EU legislator has attempted to regulate issues related to the rise of big digital players on the news content market by introducing a mechanism from the array of the copyright regulatory area—a new related right in...

"Le monde des professionnels des industries graphiques mérite d'être décrit et étudié de manière précise durant cette période de la Seconde Guerre mondiale, et d'échapper ainsi aux analyses rapides qui le résument à une corporation pluriséculaire, solide et unie et, pour les travaux...