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Article
Publication date: 17 October 2020

William M. Cready and Abdullah Kumas

This analysis is the first to explore the overall roles of the offsetting attraction and distraction influences of earnings news in shaping the level of attention given to the…

Abstract

Purpose

This analysis is the first to explore the overall roles of the offsetting attraction and distraction influences of earnings news in shaping the level of attention given to the equity market by market participants.

Design/methodology/approach

We use multivariate regression approach and examine how trading activity levels within the set of non-announcing firms varies with respect to collective measures of contemporaneous earnings announcement visibility. We employ attention and information transfer theories in our hypothesis development.

Findings

This analysis is the first to explore the overall roles of the offsetting attraction and distraction influences of earnings news in shaping the level of attention given to the equity market by market participants. Specifically, we examine how the number of earnings announcement activity affects investor attention as measured by trading volume given to the set of non-announcing firms. We find that while earnings announcement numbers lower trading volume responses to earnings news among announcing firms (consistent with Hirshleifer et al., 2009), their distractive influence does not carry over into the market as a whole. More importantly, investor attention to both the overall market and the larger subset of non-announcing firms increase in response to earnings news activity levels. However, after decomposing the announcers as same-industry and different-industry announcers, we find that investor attention to the non-announcing segment of the market increases with the number of same-industry announcers, but actually seems to decrease (i.e. they distract attention) with the number of different-industry announcers. We also find that the associated earnings surprise brings attention to non-announcing firms (consistent with earnings news is relevant to overall market price movements). Finally, we find that distraction effects are attenuated in the financial crisis period.

Research limitations/implications

A promising area of future research is to examine the relation between market pricing efficiency and aggregate earnings activity for the set of non-announcing firms. Although it will be a challenging task to measure pricing efficiency for the non-announcers, this will complement the prior literature only focusing on the announcing segment of the market.

Practical implications

First, instead of assessing the impact of number of earnings announcements on the subset of announcing firms, which is a micro-level perspective, we identify the impact of news arrivals on all firms in the market including the vastly larger set of non-announcing firms. Second, by decomposing the number of announcements into industry-related and -unrelated news we show that different types of news arrivals spark investor attention differently, suggesting the importance of categorizing the news into related and unrelated industries.

Social implications

A potential future area of research identified by our analysis is to investigate what type of investors' attention is distracted or attracted during the earnings announcements. A promising area of future research is to examine the relation between market pricing efficiency and aggregate earnings activity for the set of non-announcing firms.

Originality/value

This paper is the first one exploring the overall roles of the offsetting attraction and distraction influences of earnings announcements in shaping the level of investor attention given to the equity market by market participants. Our findings should be of interest to investors, analysts, security market regulators and researchers.

Details

Asian Review of Accounting, vol. 28 no. 4
Type: Research Article
ISSN: 1321-7348

Keywords

Article
Publication date: 25 October 2011

Hung‐Yi Lu, Tzong‐Horng Dzwo, Hsin‐Ya Hou and James E. Andrews

This study aims to examine factors influencing information‐seeking intentions and support for restrictions related to the threat of arsenic‐contaminated frying oil.

Abstract

Purpose

This study aims to examine factors influencing information‐seeking intentions and support for restrictions related to the threat of arsenic‐contaminated frying oil.

Design/methodology/approach

A telephone survey using a systematic random sample of 566 respondents in Taiwan was employed to test all hypotheses proposed in this study.

Findings

Results from the structured equation model show that news attention and elaboration significantly and positively predict information‐seeking intentions, while optimism significantly and negatively predict information‐seeking intentions; and information‐seeking intentions significantly and positively predict support for restrictions.

Practical implications

The findings of this study imply that increasing risk perceptions and providing useful information while facing the threat of food safety are of central importance.

Originality/value

The current study provides an appropriate opportunity for developing a model for better understanding the interaction among news attention, news elaboration, optimism, information‐seeking intentions, and support for restrictions as Taiwanese face the threat of arsenic‐contaminated frying oil.

Book part
Publication date: 12 July 2023

Edwin Amenta, Neal Caren and Weijun Yuan

Under which conditions do social movements receive extensive attention from the mainstream news media? We develop an institutional mediation model that argues that combinations of…

Abstract

Under which conditions do social movements receive extensive attention from the mainstream news media? We develop an institutional mediation model that argues that combinations of the news-heightening characteristics of movements, including their disruptive capacities, organizational resources, and political orientation, and political contexts, including partisan regimes and benefiting from national policies, bring extensive attention to movements. It also holds that investigations will draw extensive media attention to movements, and those that have achieved prominence in the news will remain prominent under specific conditions. We appraise these combinational arguments by examining 29 social movements across 100 years in four national newspapers using qualitative comparative analysis (QCA). Researchers typically use QCA to study the consequences of movements when they hypothesize outcomes to result from multiple combinations of conditions. This raises our second main question: How should scholars best address combinational hypotheses using QCA? Here we employ Venn diagrams to identify and illustrate key analytical issues and anomalies, including constrained diversity in observational data, empirical instances when combinations of conditions do not produce the expected outcome, and instances when unexpected combinations of conditions produce a consistent result. We also demonstrate the value of broad comparisons across movements and over time in these analyses.

Details

Methodological Advances in Research on Social Movements, Conflict, and Change
Type: Book
ISBN: 978-1-80117-887-7

Keywords

Article
Publication date: 16 June 2023

Huosong Xia, Siyi Chen, Justin Z. Zhang and Yulong Liu

The rise of the mobile Internet has accumulated much text information in various online financial forums. Such information often contains the emotional attitudes of investors…

Abstract

Purpose

The rise of the mobile Internet has accumulated much text information in various online financial forums. Such information often contains the emotional attitudes of investors toward financial technology (fintech) platforms, so extracting the sentimental tendency information has great practical value for the development of fintech platforms. Based on the investor sentiment theory, the paper aims to analyze the relevant social media data and test the influence path of online news evaluation on the stock price fluctuation of fintech platforms.

Design/methodology/approach

Taking Oriental Fortune as the research object, this paper selects multiple variables such as stock bar popularity, snowball popularity, news popularity and news sentiment scores collected by UQER and combines the sentiment scores of single daily news into a daily sentiment score. Based on the period from November 1, 2019 to March 31, 2020, during the emergence of the coronavirus disease 2019 (COVID-19) pandemic as the background, the authors conduct the Granger causality test based on the vector autoregressive (VAR) model and analyze the relevant evaluation of Oriental Fortune through the empirical model.

Findings

The authors' results show that different online evaluations impact the rise and fall of stock prices differently, while news popularity has the most significant impact. Besides, news sentiment scores on share price fluctuation have a relatively substantial influence. These findings indicate that the authoritative news evaluation can strongly guide investors to make relevant investment behavior operations in the information dissemination process, significantly affecting stock prices.

Originality/value

The research findings of this paper have good inspiration and reference values for investors and financial regulators.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 28 January 2014

Hyejoon Rim, Jin Hong Ha and Spiro Kiousis

– This paper aims to explore the links among health authorities’ public relations efforts, news media coverage, and public perceptions of risk during the H1N1 pandemic outbreak.

1187

Abstract

Purpose

This paper aims to explore the links among health authorities’ public relations efforts, news media coverage, and public perceptions of risk during the H1N1 pandemic outbreak.

Design/methodology/approach

This study used a triangulation of research methods by comparing public relations materials, media coverage, and public opinion. The data were collected from a federal government web site, national newspapers, and national polls.

Findings

The data revealed a positive relationship between information subsidy attention and media attention to the H1N1 disease as well as the severity attribute. The salience of the severity attribute in information subsidies was linked with increased H1N1 salience in media coverage, extending the testing of the compelling-arguments hypothesis to an agenda-building context. However, there was no association between salience of the severity attribute and public risk perceptions.

Research limitations/implications

The study provides evidence for public relations effectiveness. However, the limited influence of the severity frame on the public's risk perception suggests a gap between news coverage and the public's view. Framing that effectively empowers the public to engage in desired behavior should be further studied for the success of a public health campaign. The study is limited to examining the severity attribute. A future study should pay more attention to different issue attributes or other frames. The media sample was limited to newspapers and thus lacks generalizability.

Originality/value

The study contributes to public relations scholarship by demonstrating how information subsidies influence media agendas and public opinion in a health communication context. The public health authorities’ role in influencing media agenda should be stressed.

Details

Journal of Communication Management, vol. 18 no. 1
Type: Research Article
ISSN: 1363-254X

Keywords

Open Access
Article
Publication date: 11 July 2023

Aline Simonetti and Enrique Bigne

The purpose of this study is to investigate how much visual attention is given to banner ads embedded in Web page content dependent on whether the user’s task is goal- or not…

1235

Abstract

Purpose

The purpose of this study is to investigate how much visual attention is given to banner ads embedded in Web page content dependent on whether the user’s task is goal- or not goal-oriented, as well as the interplay between attention, banner location, banner click and banner recognition.

Design/methodology/approach

The authors used a within-subjects design where 100 participants performed two tasks – reading a news and finding where to click next – on a Web page containing three banner ads embedded into the website content. The authors gathered behavioral and eye-tracking data.

Findings

Consumers disregard banner ads when they are performing a focused task (reading news). Visual attention paid to the banners while reading – but not while free browsing – and banner location do not impact ad clicking. In addition, it is not necessary to pay full attention to a banner ad to be able to recognize it afterward.

Practical implications

The strategy of embedding banners in the main content of a Web page leads to higher visual attention when consumers are browsing a Web page compared to a focused task (e.g. reading). It also increases ad recognition over time compared to benchmark levels for ads placed in traditional positions.

Originality/value

Previous studies mainly assessed effectiveness of banners located at the top or lateral of a Web page. The authors used eye tracking as an objective measure of visual attention to banner ads embedded in Web page content and behavioral metrics to assess ad interest and measured ad recognition over time.

Objetivo

Investigar cuánta atención visual se presta a los banners publicitarios incrustados en el contenido de una página Web en función de si la tarea del usuario está orientada a un objetivo o no, así como la interacción entre la atención, la ubicación del banner, el clic en el banner y el reconocimiento del banner.

Diseño/metodología/enfoque

Se utilizó un diseño entre sujetos en el que 100 participantes realizaban dos tareas – leer una noticia y encontrar dónde hacer clic a continuación – en una página Web que contenía tres banners publicitarios incrustados en el contenido del sitio Web. Se recogieron datos conductuales y de seguimiento ocular.

Conclusiones

Los consumidores no prestan atención a los banners publicitarios cuando están realizando una tarea concentrada (leer noticias). La atención visual prestada a los banners durante la lectura – pero no durante la navegación libre – y la ubicación de los banners no influyen en el hecho de hacer clic en los anuncios. Además, no es necesario prestar toda la atención a un banner publicitario para poder reconocerlo después.

Originalidad

Los estudios anteriores evaluaban principalmente la eficacia de los banners situados en la parte superior o lateral de una página Web. Nosotros utilizamos el seguimiento ocular como medida objetiva de la atención visual a los banners incrustados en el contenido de la página Web y métricas de comportamiento para evaluar el interés por el anuncio, y medimos el reconocimiento del anuncio a lo largo del tiempo.

Implicaciones prácticas

La estrategia de incrustar banners en el contenido principal de una página Web aumenta la atención visual de los consumidores cuando navegan por una página Web en comparación con una tarea específica (por ejemplo, leer). También aumenta el reconocimiento del anuncio a lo largo del tiempo en comparación con los niveles de referencia de los anuncios colocados en posiciones tradicionales.

目的

研究用户对嵌入在网页内容中的横幅广告的视觉注意程度, 取决于用户的任务是否以目标为导向, 以及注意、横幅位置、横幅点击和横幅识别之间的相互作用。

设计/方法/途径

我们采用了主体内设计, 100名参与者在一个含有三个嵌入网站内容的横幅广告的网页上执行两项任务–阅读新闻和寻找下一步的点击位置。我们收集了行为和眼球追踪数据。

研究结果

消费者在执行重点任务(阅读新闻)时忽略了横幅广告。阅读时对横幅广告的视觉关注–而不是自由浏览时–以及横幅广告的位置并不影响广告点击。此外, 不一定要完全注意横幅广告才能在事后认出它。

原创性

以前的研究主要评估位于网页顶部或侧面的横幅广告的效果。我们用眼动仪作为对嵌入网页内容的横幅广告的视觉注意力的客观测量, 用行为指标来评估广告的兴趣, 并测量了广告在一段时间内的识别度。

实际意义

在网页的主要内容中嵌入横幅广告的策略导致消费者在浏览网页时, 与重点任务(如阅读)相比, 视觉注意力更高。与放置在传统位置的广告的基准水平相比, 它也会随着时间的推移增加广告识别度。

Article
Publication date: 7 September 2010

Hung‐Yi Lu, Hsin‐Ya Hou, Tzong‐Horng Dzwo, Yi‐Chen Wu, James E. Andrews, Shao‐Ting Weng, Mei‐Chun Lin and Jun‐Ying Lu

The melamine milk scandal caused a crisis of confidence in food containing dairy products. The purpose of this paper is to explore the determinants of precautionary behaviour to…

2573

Abstract

Purpose

The melamine milk scandal caused a crisis of confidence in food containing dairy products. The purpose of this paper is to explore the determinants of precautionary behaviour to avoid food containing dairy products among Taiwanese college students.

Design/methodology/approach

Of the total respondents selected using a multistage cluster sampling plan, 1,213 respondents completed the questionnaire.

Findings

The survey results showed that subjective norms, attitude, perceived behavioural control, attention to news, and perceived credibility of information are significantly associated with the intention to take precautionary behaviour.

Originality/value

The paper developed a modified theory of planned behaviour (TPB) that focused on attention and perceived credibility of milk scandal‐related information as additional determinants of precautionary behaviour to avoid food containing dairy products. The inclusion of attention and perceived credibility of information constructs enabled a better model fit than that of the TPB model.

Details

British Food Journal, vol. 112 no. 9
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 24 June 2021

Riccardo Ferretti and Andrea Sciandra

This paper focuses on the influence of social, cultural and religious factors on investors' attention. In particular, the authors examined if the attention-grabbing mechanism…

Abstract

Purpose

This paper focuses on the influence of social, cultural and religious factors on investors' attention. In particular, the authors examined if the attention-grabbing mechanism works on Sundays, that is, if the Italians' Sunday activities and habits lead to a lower attention to second-hand financial news, compared to Saturdays.

Design/methodology/approach

The authors analyzed the market reaction to equivalent stale events published on the Saturday and Sunday editions of an Italian financial newspaper and conducted a standard event study on abnormal returns and abnormal volumes for Saturday and Sunday columns and a multivariate analysis on abnormal returns for columns reporting positive recommendations. As a robustness check, the authors performed a sentiment analysis of the columns and included this variable in the regression analysis, but sentiment proved to be not significant in the final model.

Findings

The study’s results confirmed that the attention-grabbing mechanism directed buying decisions, while had no influence on selling decisions. Furthermore, event study and multivariate analysis showed a significant lower market reaction to Sunday columns, supporting the study hypothesis of a Sunday investors' inattention which can be traced to cultural and/or religious factors since Sunday in Italy is a day devoted to family, entertainment and religious rituals.

Practical implications

The lower investors' attention on Sundays and the related influence of social, cultural and religious factors have implications for the timing of both corporate communications and financial advertising.

Originality/value

The authors’ paper provides an original contribution, on the empirical ground, to the attention-grabbing theory and to the growing theoretical literature in microeconomics that models attention.

Details

Review of Behavioral Finance, vol. 14 no. 5
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 8 March 2019

Salla-Maaria Laaksonen, Alessio Falco, Mikko Salminen, Pekka Aula and Niklas Ravaja

This study investigates how media brand knowledge, defined as a structural feature of the message, influences emotional and attentional responses to, and memory of, news messages.

Abstract

Purpose

This study investigates how media brand knowledge, defined as a structural feature of the message, influences emotional and attentional responses to, and memory of, news messages.

Design/methodology/approach

Self-reports, facial electromyography (EMG) and electroencephalography were used as indices of emotional valence, arousal and attention in response to 42 news messages, which varied along the valence and involvement dimensions and were framed with different media brands varying along the familiarity and credibility dimensions.

Findings

Compared to the no-brand condition, news framed with brands elicited more attention. The memory tests indicated that strong media brands override the effect of involvement in information encoding, whereas details of news presented with Facebook were not well encoded. However, the headlines of news framed with Facebook were well retrieved. In addition, negative and high-involvement news elicited higher arousal ratings and corrugator EMG activity. News framed with familiar and high-credibility brands elicited higher arousal ratings.

Research limitations/implications

Relevant for both brand managers and audiences, the findings show that building credibility and familiarity both work as brand attributes to differentiate media brands and influence information processing.

Originality/value

The results highlight the importance of media brands in news reading: as a structural feature, the brand is used as a proxy to process the message content. The study contributes by investigating how the type of source influences the reception and encoding of the mediated information; by investigating the emotional effects of brands; and by confirming previous findings in media psychology literature.

Details

Journal of Product & Brand Management, vol. 28 no. 1
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 1 February 2022

Hui Li, Qian-Xia Chen, Sai Liang and Jing-Jing Yang

Few studies on hospitality firm survival consider the impact of online media exposure. This paper aims to investigate how the online news coverage of restaurants, characterized in…

Abstract

Purpose

Few studies on hospitality firm survival consider the impact of online media exposure. This paper aims to investigate how the online news coverage of restaurants, characterized in terms of the number of articles, channel (Web page or mobile app), topic (operations or products) and consistency (mix of news tones), influences their survival.

Design/methodology/approach

A yearly panel data set covering 682 news-reported restaurants in Shanghai, China, over the period 2011–2019 is analyzed using a Cox model, and an extended cross-sectional data set containing 9,488 restaurants is used for robustness checks.

Findings

A larger number of online news articles, regardless of channel or topic, significantly improves restaurants’ chances of survival, and this positive impact of online exposure is greater if that news is published by mobile apps (rather than on Web pages) or reports topics related to operations (rather than products). Although, generally, news inconsistency is not good for restaurant survival, when the number of online news items is eight or more, inconsistency becomes good for survival.

Practical implications

This research guides restaurant operators to use news exposure in an online marketing environment to increase the firm’s chances of long-term survival.

Originality/value

Online media exposure has hitherto been ignored in the literature on the survival of hospitality firms. This paper provides a new perspective on hospitality firm survival and also contributes to the literature on media exposure by conceptualizing a unique factor, namely, the consistent online exposure.

Details

International Journal of Contemporary Hospitality Management, vol. 34 no. 4
Type: Research Article
ISSN: 0959-6119

Keywords

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