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| Tekijä: | Carretta, A.(et al.) |
| Otsikko: | The impact of corporate governance press news on stock market returns |
| Lehti: | European Financial Management
2011 : JAN, VOL.17:1, p. 100-119 |
| Asiasana: | corporate governance shareholder value event studies stock markets Italy |
| Vapaa asiasana: | text analysis returns news |
| Kieli: | eng |
| Tiivistelmä: | Based on the present various studies have analyzed the link between news coverage and stock prices but no evidence exists on how channels and ways of communication of information affect investors behaviour. This paper analyzes these aspects focusing on a large sample of corporate governance news published between 2003 and 2007 Il in Sole 24 Ore, Italy's major financial newspaper. Their results indicates that before news is made public investors are only able to assess the type of corporate governance event underlying it. After publication, investors are influenced by the content (positive or negative) and the tone of communication (strong or weak) of the news. |
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