Hope, Ole-Kristian
[VerfasserIn]
;
Li, Yi
[Sonstige Person, Familie und Körperschaft];
Liu, Qiliang
[Sonstige Person, Familie und Körperschaft];
Wu, Han
[Sonstige Person, Familie und Körperschaft]
Erschienen in:2017 Canadian Academic Accounting Association (CAAA) Annual Conference
Umfang:
1 Online-Ressource (63 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.2897758
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 3, 2020 erstellt
Beschreibung:
Media dissemination has an important function in facilitating price discovery. Political pressure that restricts media dissemination can hinder this function and affect investors' perceptions. We investigate the magnitude and economic consequences of China's newspaper censorship, which blocks further dissemination of firm-disclosed information, using a setting of “tunneling” scandals. We show significant evidence of censorship of tunneling-related negative news at both the national and the local levels. We further find that censorship leads to delays in the dissemination of tunneling news and that the news that survives censorship potentially targets less serious issues, which hinders the media's dissemination function and delays incorporation of information into prices