کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
931670 | 1474605 | 2016 | 12 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The direction of media influence: Real-estate news and the stock market
ترجمه فارسی عنوان
جهت نفوذ رسانه: اخبار املاک و بازار سهام
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کلمات کلیدی
رسانه ها، مسکن؛ اخبار؛ حباب؛ بازار سهام؛ املاک و مستغلات
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد، اقتصادسنجی و مالیه (عمومی)
چکیده انگلیسی
This paper uses a novel identification strategy to test the influence of news media on the stock market. Because the stock market does not impact the media coverage of the housing market, a relationship between real-estate news and shares of companies engaged in the housing market is attributable media influence. I find that the content of reporting exhibits a significant relationship with stock returns, and the amount of news with the number of trades. These relationships exist even after controlling for known risk factors, housing market performance and intra-week correlation. This finding is consistent with the function of the media as a source of information and sentiment in financial markets.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Behavioral and Experimental Finance - Volume 10, June 2016, Pages 20–31
Journal: Journal of Behavioral and Experimental Finance - Volume 10, June 2016, Pages 20–31
نویسندگان
Clive B. Walker,