IDEAS home Printed from
   My bibliography  Save this article

The Impact of Corporate Media News on Market Valuation


  • Beatriz Cuellar-Fernandez
  • Yolanda Fuertes-Callen
  • Jose Antonio Lainez-Gadea


This article explores the influence of Web-based corporate reporting on the investors' valuation of companies in the information and communications technology industry. This study compiled 8,111 news items issued in the “Press Releases” tab of the firms' Web sites between January 2003 and April 2005, and analyzed what type of news items affects stock returns. The results show a positive price reaction to news regarding new customers, completion of acquisitions, strategic long-term decisions, and non-technological alliances. In contrast, the results show a negative price reaction to news regarding the launch of new or upgraded products.

Suggested Citation

  • Beatriz Cuellar-Fernandez & Yolanda Fuertes-Callen & Jose Antonio Lainez-Gadea, 2010. "The Impact of Corporate Media News on Market Valuation," Journal of Media Economics, Taylor & Francis Journals, vol. 23(2), pages 90-110.
  • Handle: RePEc:taf:jmedec:v:23:y:2010:i:2:p:90-110
    DOI: 10.1080/08997764.2010.485541

    Download full text from publisher

    File URL:
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jmedec:v:23:y:2010:i:2:p:90-110. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.