Test environment running 7.6.6

Cultural advice

The Australian National University acknowledges, celebrates and pays our respects to the Ngunnawal and Ngambri people of the Canberra region and to all First Nations Australians on whose traditional lands we meet and work, and whose cultures are among the oldest continuing cultures in human history.

Aboriginal and Torres Strait Islander peoples are advised that ANU Library collections may include images, names, voices, and other representations of deceased persons.

Material in the collection may contain terms, language or views that reflect the period in which the item was created and may be considered inappropriate today.

The governance effect of the media's news dissemination role

Thumbnail Image

Date

2015-05-01

Authors

Journal Title

Journal ISSN

Volume Title

Publisher

Abstract

We investigate whether the media plays a role in corporate governance by disseminating news. Using a comprehensive data set of corporate and insider news coverage for the 2001-2012 period, we show that the media reduces insiders' future trading profits by disseminating news on prior insiders' trades available from regulatory filings. We find support for three economic mechanisms underlying the disciplining effect of news dissemination: the reduction of information asymmetry, concerns regarding litigation risk, and the impact on insiders' personal wealth and reputation. Our findings provide new insights into the real effect of news dissemination.

Description

Keywords

Corporate governance, Information dissemination, Insider trading, Media

Citation

URI

https://dspace-test.anu.edu.au/handle/1885/733713575

Collections

DevOps Pure Testing

Source

Journal of Accounting Research

Type

Article

Book Title

Entity type

Access Statement

License Rights

DOI

10.1111/1475-679X.12073

Restricted until

DSpace software copyright © 2002-2026 LYRASIS