Applying channel complementarity theory to new and traditional economic media usage patterns of U.S. investors

• We surveyed 1116 financial investors from a national sample to investigate media use patterns related to financial news.
• We used channel complementarity theory to examine the degree to which one type of media use is related to other types of media use.
• Findings indicate a high degree of complementarity between new and traditional media use for financial information purposes.
• We also examine key boundary conditions for the complementarity theory approach.

The role communication processes within the realm of economic and financial activity is an important, yet relatively unexplored phenomenon. We define economic communication as the purposeful exchange of financial and economic ideas and messages by citizens, media, lawmakers and economic professionals intended to shape national, local, or personal finances. We use channel complementarity theory to examine the choices and combinations of communication outlets utilized by individuals seeking economic information, especially the differences between online and offline economic communication. Results indicate a high degree of complementarity across several modes of economic communication, including traditional and new media, interpersonal discussion, and professional communication.