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Media abnormal tone, earnings announcements, and the stock market

David Ardia, Keven Bluteau and Kris Boudt (UGent)
(2022) JOURNAL OF FINANCIAL MARKETS. 61.
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Abstract
We conduct a tone-based event study to examine the aggregate abnormal tone dynamics in media articles around earnings announcements. We test whether they convey incremental information that is useful for price discovery for non-financial S&P 500 firms. The relation we find between the abnormal tone and abnormal returns suggests that media articles provide incremental information relative to the information contained in earnings press releases and earnings calls.

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Citation

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MLA
Ardia, David, et al. “Media Abnormal Tone, Earnings Announcements, and the Stock Market.” JOURNAL OF FINANCIAL MARKETS, vol. 61, 2022, doi:10.1016/j.finmar.2021.100683.
APA
Ardia, D., Bluteau, K., & Boudt, K. (2022). Media abnormal tone, earnings announcements, and the stock market. JOURNAL OF FINANCIAL MARKETS, 61. https://doi.org/10.1016/j.finmar.2021.100683
Chicago author-date
Ardia, David, Keven Bluteau, and Kris Boudt. 2022. “Media Abnormal Tone, Earnings Announcements, and the Stock Market.” JOURNAL OF FINANCIAL MARKETS 61. https://doi.org/10.1016/j.finmar.2021.100683.
Chicago author-date (all authors)
Ardia, David, Keven Bluteau, and Kris Boudt. 2022. “Media Abnormal Tone, Earnings Announcements, and the Stock Market.” JOURNAL OF FINANCIAL MARKETS 61. doi:10.1016/j.finmar.2021.100683.
Vancouver
1.
Ardia D, Bluteau K, Boudt K. Media abnormal tone, earnings announcements, and the stock market. JOURNAL OF FINANCIAL MARKETS. 2022;61.
IEEE
[1]
D. Ardia, K. Bluteau, and K. Boudt, “Media abnormal tone, earnings announcements, and the stock market,” JOURNAL OF FINANCIAL MARKETS, vol. 61, 2022.
@article{8724494,
  abstract     = {{We conduct a tone-based event study to examine the aggregate abnormal tone dynamics in media articles around earnings announcements. We test whether they convey incremental information that is useful for price discovery for non-financial S&P 500 firms. The relation we find between the abnormal tone and abnormal returns suggests that media articles provide incremental information relative to the information contained in earnings press releases and earnings calls.}},
  articleno    = {{100683}},
  author       = {{Ardia, David and Bluteau, Keven and Boudt, Kris}},
  issn         = {{1386-4181}},
  journal      = {{JOURNAL OF FINANCIAL MARKETS}},
  language     = {{eng}},
  pages        = {{19}},
  title        = {{Media abnormal tone, earnings announcements, and the stock market}},
  url          = {{http://doi.org/10.1016/j.finmar.2021.100683}},
  volume       = {{61}},
  year         = {{2022}},
}
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