This study examines the relationship between the extent of initial public offering (IPO) underpricing and market sentiment surrounding technology issues listing on the Australian Stock Exchange(AsX) during 1999 and 2000. We consider hype surrounding these issues as reflected in the media and as reflected in the market 's sentiment towards recent offerings by similar firms We also consider the relationship between technology firms' need for follow-on offerings due to

Interest groups seek to influence economic activity through public and private politics. Public politics takes place in the arenas of public inst it utions, whereas private politics takes place out side public inst itutions oft en in the arena of public sentiment. Private politics refers to action by interest groups directed at private parties, as in the case of an activist group launching a campaign against a firm

Numerous empirical studies have demonstrated that asset prices react rapidly, if at all, to news published in the mass media. In many cases, the information has been discounted and prices have already moved upon primary publication through news wires, press releases or firm announcements. Any remaining information is usually quickly priced in after

The first part of this paper explores whether aggregate media coverage was different for internet IPOs as opposed to a matching sample of non-internet IPOs in the late 1990s. So we read all news items that came out between 1996 through 2000 on 458 internet IPOs and a matching

The provision of mass media content over next-generation 3G mobile networks is envi- sioned as an exciting new application of new media. This paper focuses on the mobile Internet as strategic challenge for media and entertainment companies. It provides an overview of distinctive features of the mobile Internet related to personalization, time and location sensitivity, uncertainties b echnology push and market pull, and motiva- tions for engagemer

The independence of editorial content from advertisers' influence is a cornerstone of journalistic ethics We test whether this independence is observed in practice. We find that mutual fund recommendations are correlated with past advertising in three personal finance publications but not in two national news- papers. Our tests control for numerous fund characteristics, total advertising expenditures

In the deliberations of scholars, policy analysts, and policy makers, power and influence. Yet the historical record shows that television has not changed the economics of attention not merely a fluke or just ironic. It points to a major impediment to the development of information societies. State-owned-and-controlled media can be an important policy lever for overcoming this opposition

The central premise of this issue of the WAKE FOREST LAW REVIEW is that popular media1 can influence behavior in ways that implicate the segments of the legal system that impose liability on those who cause harm to others.2 This Article considers another type of influence that can be traced to popular

(Harvard University and NBER) October 1, 2002 Abstract There are two dierent types of media bias. One bias, which we refer to as ideology, re ects a news outlet's desire to aect reader opinions in a particular direction. The second bias, which we refer to as spin

During the twentieth century, virtually all western democracies saw growing media concentration as a threat to freedom of the press and to democracy. Most adopted laws to support press diversity, whether through competition (antitrust and media specific) laws or subsidy arrangements, often subsidies targeted specifically to support weaker competing