总统
杠杆(统计)
投资决策
新闻媒体
乔治(机器人)
业务
经济
政治学
会计
公共关系
广告
财务
法学
行为经济学
历史
计算机科学
政治
机器学习
艺术史
作者
April M. Knill,Baixiao Liu,John J. McConnell
标识
DOI:10.1017/s0022109021000594
摘要
Abstract Using the introduction of Fox News as a natural experiment, we investigate whether partisanship in television news coverage influences fundamental corporate decisions. We find that during the George W. Bush presidency, firms led by Republican-leaning managers headquartered in regions into which Fox was introduced shift upward their total investment expenditures and financial leverage. Our findings imply that in making fundamental corporate decisions, Republican-leaning managers are swayed by the Republican slant of Fox that presents an optimistic macroeconomic outlook. The results highlight the importance of heterogeneity in media slant in understanding the role of the media in corporate decision making.
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