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dc.contributor.authorBoulland, Romain
dc.contributor.authorDegeorge, François
dc.contributor.authorGinglinger, Edith
dc.date.accessioned2016-07-21T10:25:26Z
dc.date.available2016-07-21T10:25:26Z
dc.date.issued2017
dc.identifier.issn1572-3097
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/15681
dc.language.isoenen
dc.subjectNews dissemination
dc.subjectLanguage
dc.subjectMedia coverage
dc.subjectEarnings announcements
dc.subjectLimited attention
dc.subjectD83
dc.subjectG12
dc.subjectG14
dc.subject.ddc332en
dc.subject.classificationjelD.D8.D83en
dc.subject.classificationjelG.G1.G12en
dc.subject.classificationjelG.G1.G14en
dc.titleNews dissemination and investor attention
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenWe examine how investor attention changes when a firm adopts a modern news dissemination technology. We find that after continental European firms begin using an English-language electronic wire service to disseminate company news, they exhibit a stronger initial reaction to earnings surprises, a lower post earnings announcement stock price drift, and an increase in abnormal trading volume near earnings announcements, compared with when they disseminated their news in non-electronic format and in a continental European language. Our results hold for a sub-sample of firms for which the decision to use a wire service was likely exogenous. The effect of wire services on investor attention is due to the format of news (electronic and English-language), not to the increased speed of news transmission.
dc.relation.isversionofjnlnameReview of Finance
dc.relation.isversionofjnlvol21
dc.relation.isversionofjnlissue2
dc.relation.isversionofjnldate2017
dc.relation.isversionofjnlpages761-791
dc.relation.isversionofdoi10.1093/rof/rfw018
dc.relation.isversionofjnlpublisherKluwer Academic Publishers
dc.subject.ddclabelEconomie financièreen
dc.description.ssrncandidatenon
dc.description.halcandidateoui
dc.description.readershiprecherche
dc.description.audienceInternational
dc.relation.Isversionofjnlpeerreviewedoui
dc.date.updated2017-04-19T13:56:34Z
hal.person.labIds24359*
hal.person.labIds88051*
hal.person.labIds1032*
hal.faultCode{"duplicate-entry":{"halshs-01316170":{"doi":"1.0"}}}


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