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Stock Price Reactions to Public TV Programs on Listed Japanese Companies

Author

Listed:
  • Fumiko Takeda

    () (University of Tokyo)

  • Hiroaki Yamazaki

    () (University of Tokyo)

Abstract

This paper investigates stock price reactions to Japan's popular TV program "Project X," which was broadcast on NHK between 2000 and 2005. By using a standard event study methodology, we found that stock prices of these companies increased on average after the broadcast. In particular, the programs focusing on product development and marketing tended to raise stock prices.

Suggested Citation

  • Fumiko Takeda & Hiroaki Yamazaki, 2006. "Stock Price Reactions to Public TV Programs on Listed Japanese Companies," Economics Bulletin, AccessEcon, vol. 13(7), pages 1-7.
  • Handle: RePEc:ebl:ecbull:eb-06m20002
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    File URL: http://www.accessecon.com/pubs/EB/2006/Volume13/EB-06M20002A.pdf
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    References listed on IDEAS

    as
    1. Merton, Robert C., 1987. "A simple model of capital market equilibrium with incomplete information," Working papers 1869-87., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    2. Frank Fehle & Sergey Tsyplakov & Vladimir Zdorovtsov, 2005. "Can Companies Influence Investor Behaviour through Advertising? Super Bowl Commercials and Stock Returns," European Financial Management, European Financial Management Association, vol. 11(5), pages 625-647.
    3. A. Craig MacKinlay, 1997. "Event Studies in Economics and Finance," Journal of Economic Literature, American Economic Association, pages 13-39.
    4. Merton, Robert C, 1987. " A Simple Model of Capital Market Equilibrium with Incomplete Information," Journal of Finance, American Finance Association, vol. 42(3), pages 483-510, July.
    5. Gur Huberman, 2001. "Contagious Speculation and a Cure for Cancer: A Nonevent that Made Stock Prices Soar," Journal of Finance, American Finance Association, vol. 56(1), pages 387-396, February.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Takeda, Fumiko & Wakao, Takumi, 2014. "Google search intensity and its relationship with returns and trading volume of Japanese stocks," Pacific-Basin Finance Journal, Elsevier, pages 1-18.
    2. repec:eee:pacfin:v:46:y:2017:i:pb:p:243-257 is not listed on IDEAS

    More about this item

    Keywords

    Event studies;

    JEL classification:

    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics
    • L8 - Industrial Organization - - Industry Studies: Services

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