Economics at your fingertips  

Media abnormal tone, earnings announcements, and the stock market

David Ardia, Keven Bluteau and Kris Boudt

Papers from

Abstract: We conduct a tone-based event study to examine the aggregate abnormal tone dynamics in media articles around earnings announcements. We test whether they convey incremental information that is useful for price discovery for nonfinancial S&P 500 firms. The relation we find between the abnormal tone and abnormal returns suggests that media articles provide incremental information relative to the information contained in earnings press releases and earnings calls.

Date: 2021-10
New Economics Papers: this item is included in nep-fmk and nep-mst
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Published in Journal of Financial Markets, Volume 61, November 2022, 100683

Downloads: (external link) Latest version (application/pdf)

Related works:
Journal Article: Media abnormal tone, earnings announcements, and the stock market (2022) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this paper

More papers in Papers from
Bibliographic data for series maintained by arXiv administrators ().

Page updated 2023-04-17
Handle: RePEc:arx:papers:2110.10800