A friendly turn: Advertising bias in the news media


Focke, Florens ; Niessen-Ruenzi, Alexandra ; Ruenzi, Stefan



URL: http://www.econstor.eu/bitstream/10419/100497/1/Vf...
Additional URL: http://hdl.handle.net/10419/100497
Document Type: Conference or workshop publication
Year of publication: 2015
Book title: Jahrestagung des Vereins für Socialpolitik 2014 : Thema der Kerntagung: "Evidenzbasierte Wirtschaftspolitik"
Page range: No. E09-V2
Conference title: Jahrestagung des Vereins für Socialpolitik 2014
Location of the conference venue: Hamburg, Germany
Date of the conference: 7.-10.9.2014
Place of publication: Kiel
Publishing house: ZBW
Publication language: English
Institution: Außerfakultäre Einrichtungen > Graduate School of Economic and Social Sciences - CDSB (Business Studies)
Business School > Internat. Finanzierung (Ruenzi)
Business School > Banken u. Finanzierung (Juniorprofessur) (Niessen-Ruenzi -2012)
Subject: 330 Economics
Abstract: This paper investigates whether newspapers report more favorably about advertising corporate clients than about other firms. Our identification strategy based on high-dimensional fixed effects and high frequency advertising data shows that advertising leads to more positive press coverage. This advertising bias in reporting is found among local and national newspapers. Further results show that advertising bias manifests particularly in less negative reporting after bad news events such as negative earnings surprises or extremely negative stock returns. Our findings cast doubt on the independence of the press from corporate pressure and hint at important information frictions.

Dieser Eintrag ist Teil der Universitätsbibliographie.




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Focke, Florens ; Niessen-Ruenzi, Alexandra ORCID: 0000-0002-9493-8280 ; Ruenzi, Stefan ORCID: 0000-0002-6492-1701 A friendly turn: Advertising bias in the news media. No. E09-V2 In: Jahrestagung des Vereins für Socialpolitik 2014 : Thema der Kerntagung: "Evidenzbasierte Wirtschaftspolitik" (2015) Kiel Jahrestagung des Vereins für Socialpolitik 2014 (Hamburg, Germany) [Conference or workshop publication]


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