The usual suspects: the effects of attention on journalists’ stock recommendations

Alexander G. Kerl and Andreas Walter

Applied Financial Economics Letters, 2008, vol. 4, issue 2, 97-101

Abstract: This study examines if journalists are affected by attention stimuli similar to that of individual investors. Applying logistic regression technique, we find that journalists focus on attention grabbing stocks when publishing their buy and sell recommendations. Thereby, journalists intensify the well-documented attention bias of individual investors.

Date: 2008
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DOI: 10.1080/17446540701537772

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