Home > Research > Publications & Outputs > Influence of media coverage and sentiment on se...

Electronic data

  • MG Accouting and Finance 2018

    Rights statement: This is the peer reviewed version of the following article: Sun, J. , Zhou, Y. , Wang, J. (. and Guo, J. (. (2018), Influence of media coverage and sentiment on seasoned equity offerings. Account Finance. . doi:10.1111/acfi.12334 which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/acfi.12334/abstract This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.

    Accepted author manuscript, 826 KB, PDF document

    Available under license: CC BY-NC: Creative Commons Attribution-NonCommercial 4.0 International License

Links

Text available via DOI:

View graph of relations

Influence of media coverage and sentiment on seasoned equity offerings

Research output: Contribution to journalJournal article

Published

Standard

Influence of media coverage and sentiment on seasoned equity offerings. / Sun, Ji; Zhou, Yi; Wang, Jiaguo; Guo, Jie (Michael).

In: Accounting and Finance, Vol. 60, No. S1, 24.04.2020, p. 557-585.

Research output: Contribution to journalJournal article

Harvard

Sun, J, Zhou, Y, Wang, J & Guo, JM 2020, 'Influence of media coverage and sentiment on seasoned equity offerings', Accounting and Finance, vol. 60, no. S1, pp. 557-585. https://doi.org/10.1111/acfi.12334

APA

Sun, J., Zhou, Y., Wang, J., & Guo, J. M. (2020). Influence of media coverage and sentiment on seasoned equity offerings. Accounting and Finance, 60(S1), 557-585. https://doi.org/10.1111/acfi.12334

Vancouver

Sun J, Zhou Y, Wang J, Guo JM. Influence of media coverage and sentiment on seasoned equity offerings. Accounting and Finance. 2020 Apr 24;60(S1):557-585. https://doi.org/10.1111/acfi.12334

Author

Sun, Ji ; Zhou, Yi ; Wang, Jiaguo ; Guo, Jie (Michael). / Influence of media coverage and sentiment on seasoned equity offerings. In: Accounting and Finance. 2020 ; Vol. 60, No. S1. pp. 557-585.

Bibtex

@article{ad5f5707f9bc40b394466efee86f19f3,
title = "Influence of media coverage and sentiment on seasoned equity offerings",
abstract = "This article examines the role of media in seasoned equity offerings (SEOs) price and market reactions on SEO announcements. Using a sample of SEO deals in UK, we find that media coverage is significantly and negatively related to SEO price discounts and market returns around SEO announcements. Moreover, we document that more pessimistic media sentiment predicts larger SEO price discounts and more negative market reactions to SEO announcements. In summary, both media coverage and media sentiment influence investor decisions in SEOs, but through different mechanisms.",
keywords = "Announcement return, Media coverage , Media sentiment , Offer discount, Seasoned equity offerings",
author = "Ji Sun and Yi Zhou and Jiaguo Wang and Guo, {Jie (Michael)}",
note = "This is the peer reviewed version of the following article: Sun, J. , Zhou, Y. , Wang, J. (. and Guo, J. (. (2018), Influence of media coverage and sentiment on seasoned equity offerings. Account Finance. . doi:10.1111/acfi.12334 which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/acfi.12334/abstract This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.",
year = "2020",
month = apr,
day = "24",
doi = "10.1111/acfi.12334",
language = "English",
volume = "60",
pages = "557--585",
journal = "Accounting and Finance",
issn = "0810-5391",
publisher = "Wiley-Blackwell",
number = "S1",

}

RIS

TY - JOUR

T1 - Influence of media coverage and sentiment on seasoned equity offerings

AU - Sun, Ji

AU - Zhou, Yi

AU - Wang, Jiaguo

AU - Guo, Jie (Michael)

N1 - This is the peer reviewed version of the following article: Sun, J. , Zhou, Y. , Wang, J. (. and Guo, J. (. (2018), Influence of media coverage and sentiment on seasoned equity offerings. Account Finance. . doi:10.1111/acfi.12334 which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/acfi.12334/abstract This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.

PY - 2020/4/24

Y1 - 2020/4/24

N2 - This article examines the role of media in seasoned equity offerings (SEOs) price and market reactions on SEO announcements. Using a sample of SEO deals in UK, we find that media coverage is significantly and negatively related to SEO price discounts and market returns around SEO announcements. Moreover, we document that more pessimistic media sentiment predicts larger SEO price discounts and more negative market reactions to SEO announcements. In summary, both media coverage and media sentiment influence investor decisions in SEOs, but through different mechanisms.

AB - This article examines the role of media in seasoned equity offerings (SEOs) price and market reactions on SEO announcements. Using a sample of SEO deals in UK, we find that media coverage is significantly and negatively related to SEO price discounts and market returns around SEO announcements. Moreover, we document that more pessimistic media sentiment predicts larger SEO price discounts and more negative market reactions to SEO announcements. In summary, both media coverage and media sentiment influence investor decisions in SEOs, but through different mechanisms.

KW - Announcement return

KW - Media coverage

KW - Media sentiment

KW - Offer discount

KW - Seasoned equity offerings

U2 - 10.1111/acfi.12334

DO - 10.1111/acfi.12334

M3 - Journal article

VL - 60

SP - 557

EP - 585

JO - Accounting and Finance

JF - Accounting and Finance

SN - 0810-5391

IS - S1

ER -