Media capture by banks
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- dc.contributor.author Durante, Ruben
- dc.contributor.author Fabiani, Andrea
- dc.contributor.author Laeven, Luc
- dc.contributor.author Peydró, José-Luis
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2024-11-14T10:09:58Z
- dc.date.available 2024-11-14T10:09:58Z
- dc.date.issued 2021-12-01
- dc.date.modified 2024-11-14T10:08:24Z
- dc.description.abstract Do media slant news in favor of the banks they borrow from? We study how lending connections affect news coverage of banks earnings reports and of the Eurozone sovereign debt crisis on major newspapers from several European countries. We find that newspapers cover announcements by their lenders - relative to those of other banks - significantly more when they report profits than when they report losses. Such prolender bias is stronger for more leveraged outlets and banks, and operates on the extensive margin for general-interest newspapers and on the intensive margin for financial newspapers. Regarding the Eurozone crisis we find that newspapers connected to banks more exposed to stressed sovereign bonds are more likely to promote a narrative of the crisis favorable to banks and to oppose debt-restructuring measures detrimental to creditors. Our findings support the concern that financial distress and increased dependence on creditors may undermine media companies' editorial independence.
- dc.format.mimetype application/pdf*
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1817
- dc.identifier.citation
- dc.identifier.uri http://hdl.handle.net/10230/68655
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1817
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword media bias
- dc.subject.keyword banks
- dc.subject.keyword newspapers
- dc.subject.keyword earnings reports
- dc.subject.keyword eurozone crisis
- dc.subject.keyword Finance and Accounting
- dc.title Media capture by banks
- dc.title.alternative
- dc.type info:eu-repo/semantics/workingPaper