Finance TV

UNIVERSITY OF TECHNOLOGY SYDNEY
Finance Department
Research Seminars in Finance

Diego Garcia

Paper Title: Finance TV

Speaker: Diego Garcia, University of Colorado Boulder

Time and Date: 12 – 1 pm, Wednesday 26 April 2023  (AEST)

Venue: Face-to-face seminar in room CB08.08.02, Level 8, Building 8, University of Technology Sydney, 14-28 Ultimo Rd, Ultimo, Sydney, Australia (Map of campus)

Abstract and paper:  We construct a high frequency dataset of firm mentions on the three major business news networks, CNBC, Fox Business and Bloomberg, studying the closed caption (CC) data that accompanies national TV broadcasts. Firm prices appreciate on the days firms are covered by TV. Mentioning a firm on TV is associated with significantly larger abnormal returns than references in print media and the DJNW. Using intraday data, we show the extensive-margin effects are concentrated in the 30-minute window around the TV mentions of the firm.

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Co-ordinator: Kenny Phua

Enquiries: Chloe Qu

 

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