Arbeitspapier
Media coverage and stock returns on the London Stock Exchange, 1825-70
News media plays an important role in modern financial markets. In this paper, we analyse the role played by the news media in an historical financial market. Using The Times's coverage of companies listed on the London stock market between 1825 and 1870, we examine the determinants of media coverage in this era and whether there was a media discount. Our main finding is that a media discount only manifests itself after the mid-1840s and that the introduction of arm's-length ownership along with markedly increased market participation was the main reason for the emergence of this discount.
- Language
-
Englisch
- Bibliographic citation
-
Series: QUCEH Working Paper Series ; No. 2016-02
- Classification
-
Wirtschaft
Asset Pricing; Trading Volume; Bond Interest Rates
Economic History: Financial Markets and Institutions: Europe: Pre-1913
- Subject
-
media
financial press
historical stock markets
advertising
- Event
-
Geistige Schöpfung
- (who)
-
Turner, John D.
Ye, Qing
Walker, Clive B.
- Event
-
Veröffentlichung
- (who)
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Queen's University Centre for Economic History (QUCEH)
- (where)
-
Belfast
- (when)
-
2016
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Turner, John D.
- Ye, Qing
- Walker, Clive B.
- Queen's University Centre for Economic History (QUCEH)
Time of origin
- 2016
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