Arbeitspapier

The price of media capture and the looting of newspapers in interwar France

This paper develops a new insight enabling the empirical study of media capture: minority shareholders of newspapers and readers face similar risks. Both are adversely affected when corrupt insiders use the newspaper for personal profit and receive invisible revenues. This means that relevant data on influence and exploitation of newspaper has been hiding in plain sight in stock exchange or over-the-counter prices, since stock transactions reflect the value of this capture. Empirical data is consistent with increasing levels of looting in France during the 1930s. We provide a comparison with Britain and argue that Britain managed to protect its newspapers better.

Sprache
Englisch

Erschienen in
Series: Graduate Institute of International and Development Studies Working Paper ; No. 09/2012

Klassifikation
Wirtschaft
Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
Entertainment; Media
Economic History: Financial Markets and Institutions: Europe: 1913-
Economic History: Transport, Trade, Energy, Technology, and Other Services: Europe: 1913-
Thema
media
governance
minority shareholders
control premium
corruption
interwar
France
Mediensektor
Corporate Governance
Eigentümerstruktur
Korruption
Geschichte
Frankreich
Großbritannien

Ereignis
Geistige Schöpfung
(wer)
Bignon, Vincent
Flandreau, Marc
Ereignis
Veröffentlichung
(wer)
Graduate Institute of International and Development Studies
(wo)
Geneva
(wann)
2012

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Bignon, Vincent
  • Flandreau, Marc
  • Graduate Institute of International and Development Studies

Entstanden

  • 2012

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