Showing 1 - 10 of 146
Persistent link: https://www.econbiz.de/10010530809
We study the relation between mutual fund trades and mass media coverage of stocks. We find that funds exhibit persistent differences in their propensity to buy media-covered stocks. Moreover, this propensity is negatively related to their future performance. Funds in the highest propensity...
Persistent link: https://www.econbiz.de/10013070188
By reaching a broad population of investors, mass media can alleviate informational frictions and affect security pricing even if it does not supply genuine news. We investigate this hypothesis by studying the cross-sectional relation between media coverage and expected stock returns. We find...
Persistent link: https://www.econbiz.de/10012714469
Persistent link: https://www.econbiz.de/10003246567
Persistent link: https://www.econbiz.de/10002395558
Persistent link: https://www.econbiz.de/10003726202
Persistent link: https://www.econbiz.de/10003726388
Persistent link: https://www.econbiz.de/10003565193
Persistent link: https://www.econbiz.de/10003229585
Governments are important financiers of private sector innovation. While these public funds can ease capital constraints and information asymmetries, they can also introduce political distortions. We empirically explore these issues for China, where a quarter of firms' R&D expenditures come from...
Persistent link: https://www.econbiz.de/10012480749