How does media attention affect corporate credit asset allocation efficiency?

Peng Cao and Rong Huang

Finance Research Letters, 2025, vol. 75, issue C

Abstract: Using data of Chines A-share listed firm from 2011 to 2022, this study explores the impact of non-financial factors on credit asset allocation efficiency. Findings reveal that increasing media attention can optimize corporate credit asset allocation efficiency. Compared to print media, internet media has more pronounced impacts. The impacts are achieved by inhibiting executives’ overconfidence and strengthening analysts’ attention. These findings enhance the comprehension of the influence of media attention on firms’ resource allocation behavior from a micro-firm viewpoint.

Keywords: Media sentiment; Corporate credit asset allocation efficiency; Executives’ overconfidence (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:75:y:2025:i:c:s1544612325001217

DOI: 10.1016/j.frl.2025.106856

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