Media Coverage and Corporate Takeover : A Systematic Literature Review and Directions for Future Research

Research on media and finance has recently gained momentum due to the importance of information in the pricing process. This study systematically reviews the literature on the role of media in finance, in general, and on the relationship between media coverage and various aspects of mergers and acquisitions (M&A) and provides directions for future research. Based on the review of 58 published peer-reviewed academic papers, this study highlights the significant role of media on different aspects of takeover transaction in three phases of pre, interim and post-merger. The findings of this study suggest that there is a clear consensus in the literature on the role of media coverage and firm financial performance in the acquisition process. This study is an attempt to help researchers to understand better the relationship between media coverage and different facets of takeover transaction and suggest directions for future research