Conference Agenda
Please note that all times are shown in the time zone of the conference. The current conference time is: 15th Sept 2026, 08:52:09am CEST
|
Daily Overview |
| Session | |
|
AP 05: Text Data and LLMs in Finance Location: LR M2.1 (Floor 2) Session Chair: Lieven Baele, Tilburg University | |
    | |
ID: 2048
News Consumption in the Wild 1: University of Colorado Boulder, United States of America; 2: University of Sydney, Australia We study how market returns shape news consumption using 700 million pageviews over 27 months from Australia’s largest newspaper, the Australian Financial Review. Aggregate news consumption intensifies after the market index decreases. After major market movements, news consumption of markets news increases while declining for firm news. In panel regressions, firm stock return movements increase firm-specific news consumption while index return movements dampen it. These findings imply aggregate and firm-specific news are substitutes, supporting limited attention theories. Highlighting a news demand mechanism, market returns drive consumption of stale news articles, even without new articles about the firm on that day.
| |