Media coverage and the cross-section of stock returns

Abstract Only — The full paper PDF is not available in the registry. This XFID was minted from the paper's title, authors, and year. Where available, an abstract is provided below; the link to the publisher's record is canonical.

Abstract

ABSTRACT By reaching a broad population of investors, mass media can alleviate informational frictions and affect security pricing even if it does not supply genuine news. We investigate this hypothesis by studying the cross‐sectional relation between media coverage and expected stock returns. We find that stocks with no media coverage earn higher returns than stocks with high media coverage even after controlling for well‐known risk factors. These results are more pronounced among small stocks and stocks with high individual ownership, low analyst following, and high idiosyncratic volatility. Our findings suggest that the breadth of information dissemination affects stock returns.

Source: resolved

Document Metadata

Issuer: Elsevier BV
Document Type: Research / Academic Paper
Publication Year: 2009
Retrieved: 5 May 2026
Source: Contact XFID for Access
Record ID: XFWUHDQ1GE
Validation: Inferred by XFID

Topics

Asset PricingInformation Asymmetry

Cited by (1)

Other RESEARCH documents in the registry that cite this work.

Does the issuance of green bonds nudge environmental responsibility engagements? Evidence from the Chinese green bond market (2024)

How to Cite This Record

Use the XFID in citations to create a stable, permanent reference that resolves to this registry entry regardless of the source URL.

Academic / report citation

Elsevier BV (2009). Media coverage and the cross-section of stock returns. XFID: XF-WUHDQ1G-E. Retrieved from https://xframework.id/XFWUHDQ1GE

Identifier only

XF-WUHDQ1G-E