This paper investigates whether media attention systematically affects stock prices by exploiting the substantial discrepancy between perceived and actual information content of 6,937 CEO interviews on CNBC. The average cumulative abnormal stock return over the [-2, 0] trading day window is 162...

Using 2,956 CEO turnovers from 1993 to 2009, I find that default probability is useful in understanding and predicting forced CEO turnovers for non-distressed firms, controlling for conventional performance measures, such as stock performance. The high predictive power is not explained by...