Mass media effects on the production of information: Evidence from Non-Governmental Organization (NGO) Reports
The media report news that in turn influences behaviors. This news is drawn from a set of available information. In this paper, we study how the set of information is "exante" affected by anticipated media coverages. First, we take an exogenous but anticipated shock of media coverage: Olympic Games and FIFA World Cups. Then, we estimate the effect of this media coverage shock on the production of reports by a publicity-seeking actor: NGOs. We use a unique database that collects NGO reports on a sample of 572 firms in 140 countries between 2002 and 2010. Those reports deal with firm practices, and tone of the speech of these reports is classified as "good" or "bad" for the reputation of the firm. We find that these media coverage shocks significantly impact the production of information. More precisely, stories that are substitute to sport news (reports on host and participant countries) are significantly less reported by NGOs, while the number of reports on complement to sport news (practices of sponsors) significantly increases. Further, in both cases bad reports overreact compared to good ones.
|Length:||26 pages + tables and 3 appendix (total 52 pages)|
|Date of creation:||Feb 2013|
|Date of revision:|
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