 Business failure and mass media: An analysis of media exposure in the context of delisting eventJie Sheng and Hao Lan Journal of Business Research, 2019, vol. 97, issue C, 316-323 Abstract: It is understood that the mass media are a pervasive force in shaping the public's perceptions. This paper incorporates agenda-setting theory to explore whether and to what extent that the mass media can signal business failure. In an analysis of news coverage relating to Chinese underperforming listed firms over the period 2006–2017, it is demonstrated that firms whose stocks are put under “special treatment” status due to consecutive annual losses experience (*ST) greater news volume and lower news sentiment relative to other firms in the quarter in which the “delisting risk warning” announcements are made. Furthermore, *ST firms which are eventually delisted have a greater volume of news than other *ST firms, but we find no evidence that the sentiment of news relates to termination of listing. Our findings offer insights into the informativeness of the mass media and their agenda-setting effects in the business failure context. Keywords: Mass media; Media exposure; Business failure; Agenda-setting; Delisting; Sentiment analysis (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:97:y:2019:i:c:p:316-323 DOI: 10.1016/j.jbusres.2018.01.055 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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