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
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
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
Persons freedom to communicate, and their ability to do so effectively, has long been recognized as a crucial component of a society that respects human dignity and provides the conditions for humans to flourish. Government actions that suppress persons'speech and other forms of communication have been rightly subject to scrutiny and challenge Governments have also recognized the importance of affirmative steps to enhance persons opportunities for communications, such steps include improving education and supporting public forums. Communication is not only a personal and political good
In this paper we discuss the role of the media in pressuring corporate managers and directors to behave in ways that are \socially acceptable. Sometimes this coincides with shareholders' value maximization others not. We provide both anecdotal and systematic evidence that media affect companies' policy toward the environment and the amount of corporate resources that are diverted to the sole advantage of controlling shareholders. Our results have important consequences for the focus of the corporate governance debate and for the feasibility of reforms aimed at improving corporate governance around the
