财务金融系系列讲座之242期

时　间：2019年5月21日（周二）13:30

地　点：史带楼802室

主持人：Ph.D. Na ZHANG　 Department of Finance, School of Management, Fudan University

主　题：Friends at WSJ

演讲者：Phd. Guosong Xu Assistant Professor of Finance, Erasmus University Rotterdam School of Management

摘　要：I study the effect of the firm–journalist connections on media slant and stock returns, using a dataset on the firm’s connections to Wall Street Journal (WSJ) reporters. When corporate events are covered by connected reporters, the news sentiment becomes markedly more favorable, leading to better short-term market reactions and long-term price corrections. For identification, I instrument the connected coverage with the reporters’ turnover and find similar results. Furthermore, using Rupert Murdoch’s acquisition of the WSJ as an exogenous shock to journalistic independence, I show that firms connected to Murdoch receive better coverage and higher returns after the ownership change.

简　介：Guosong Xu will join Erasmus University Rotterdam School of Management as an Assistant Professor of Finance in September 2019. He obtains his PhD from WHU – Otto Beisheim School of Management in Germany. He was a visiting scholar at New York University in 2016. His research interests include corporate finance, mergers and acquisitions, and behavioral finance. His work has been published in leading international journals such as Journal of Corporate Finance. Prior to his doctoral studies, he worked as an M&A analyst at Lazard, in Paris.

财务金融系

2019-5-16