Activities per year
Abstract
News media plays an important role in modern financial markets. In this paper, we analyse the role played by the news media in an historical financial market. Using The Times’s coverage of companies listed on the London stock market between 1825 and 1870, we examine the determinants of media coverage in this era and whether media coverage affected returns. Our main finding is that a media effect mainly manifests itself after the mid-1840s and that the introduction of arm’s-length ownership along with markedly increased market participation was the main reason for the emergence of this media effect.
Original language | English |
---|---|
Pages (from-to) | 1605 |
Journal | Review of Finance |
Volume | 22 |
Issue number | 4 |
DOIs | |
Publication status | Published - 16 Apr 2017 |
Keywords
- media
- financial press
- historical stock markets
- advertising
Fingerprint
Dive into the research topics of 'Media Coverage and Stock Returns on the London Stock Exchange, 1825–70'. Together they form a unique fingerprint.Activities
- 1 Visiting an external academic institution
-
International Business School Suzhou (IBSS) at Xi'an Jiaotong-Liverpool University
Walker, C. (Visiting researcher)
May 2014 → Jun 2014Activity: Visiting an external institution types › Visiting an external academic institution