Wirth
Fakultäten » Philosophische Fakultät » Publizistikwissenschaft und Medienforschung, Institut für » Prof. Dr. Werner Wirth » Wirth
Current research project
| Title / Titel | Media and Financial Markets: Empirical Analysis and Economic Modelling | ||
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| Abstract (PDF, 14 KB) | |||
| Original title / Originaltitel | Medien und Finanzmärkte: Empirische Untersuchung und ökonomische Modellierung | ||
| Summary / Zusammenfassung | This research project analyzes the interdependencies between economic media coverage and market movements (price developments). Over and above the transmission of fundamental financial facts by media, we pay attention to additional effects of media coverage on market movements. The research question is of high relevance not only for communication sciences, but also for the Behavioral Finance. Therefore, we choose an interdisciplinary approach: An empirical analysis is combined with economic modeling for analyzing the relationship between media coverage and financial markets. Findings serve as a basis for recommendations concerning the question how the interaction between media and financial markets can be optimized in order to enable an efficient pricing process (i.e. the prevention of speculative bubbles). A content analysis of economic media coverage in the USA is used to assess if media cover financial issues in an emotional way. To identify cumulative and consonant coverage, not only media which are regarded as “opinion leaders” for economic issues, but also follower media are content analyzed. With this analysis we are able to find answers on the questions how (and to what amount) media cover different financial issues, if these issues are covered in an emotional way, how the emotionalized coverage diffuses in the media system, as well as which media are leader and which are follower. |
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| Keywords / Suchbegriffe | economic news coverage, content analysis, media effects, Behavioral Finance, emotions | ||
| Project leadership and contacts / Projektleitung und Kontakte |
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| Funding source(s) / Unterstützt durch |
SNF (Personen- und Projektförderung) |
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| In collaboration with / In Zusammenarbeit mit |
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| Duration of Project / Projektdauer | Feb 2011 to Nov 2013 |