This paper examines the effect of a change in WSJ’s ownership in 2007 when it was acquired by News Corp., which is owned by Rupert Murdoch. We find that WSJ’s coverage of firms with board connections to News Corp. is 36.5% more positive, relative to New York Times (NYT), after its...

This paper addresses regulatory concerns that large shareholders of credit rating agencies may influence the rating process. Unlike S&P which is a privately held division of McGraw Hill, Moody's is a public company listed on the NYSE. Over the period 2001 to 2010, Moody's had two shareholders,...