{"title":"Breaking the news: how does CEO media coverage influence consumer and investor evaluations?","authors":"Samuel Stäbler, Prachi Gala","doi":"10.1007/s11002-024-09720-y","DOIUrl":null,"url":null,"abstract":"<p>This study investigates how CEO-related events covered in news media affect consumer evaluations. The conceptual model proposes six CEO-related news categories and details their impact on consumer evaluations as well as the degree to which these responses determine firms’ stock prices. The authors analyze a rich sample of 725 CEO-related events of 125 firms covered in leading US news outlets from 2009 to 2019. Using an econometric approach and an event study, they find that stories about CEO scandals detrimentally affect consumer evaluations, which translates to an immediate loss of more than US$500 million on stock markets, whereas stories about CEO altruism and CEO political ideologies have a positive impact on consumer evaluations. The authors provide insights into short and long-term effects and formulate actionable implications.</p>","PeriodicalId":48068,"journal":{"name":"Marketing Letters","volume":"53 1","pages":""},"PeriodicalIF":2.5000,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Marketing Letters","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1007/s11002-024-09720-y","RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
This study investigates how CEO-related events covered in news media affect consumer evaluations. The conceptual model proposes six CEO-related news categories and details their impact on consumer evaluations as well as the degree to which these responses determine firms’ stock prices. The authors analyze a rich sample of 725 CEO-related events of 125 firms covered in leading US news outlets from 2009 to 2019. Using an econometric approach and an event study, they find that stories about CEO scandals detrimentally affect consumer evaluations, which translates to an immediate loss of more than US$500 million on stock markets, whereas stories about CEO altruism and CEO political ideologies have a positive impact on consumer evaluations. The authors provide insights into short and long-term effects and formulate actionable implications.
本研究探讨了新闻媒体报道的 CEO 相关事件如何影响消费者的评价。概念模型提出了六种 CEO 相关新闻类别，并详细说明了它们对消费者评价的影响以及这些反应对公司股价的决定程度。作者分析了 2009 年至 2019 年美国主要新闻媒体所报道的 125 家公司的 725 个 CEO 相关事件的丰富样本。通过计量经济学方法和事件研究，他们发现有关 CEO 丑闻的报道会对消费者的评价产生不利影响，从而导致股票市场立即损失超过 5 亿美元，而有关 CEO 利他主义和 CEO 政治意识形态的报道则会对消费者的评价产生积极影响。作者对短期和长期影响进行了深入分析，并提出了可行的建议。
期刊介绍：
Marketing Letters: A Journal of Research in Marketing publishes high-quality, shorter paper (under 5,000 words including abstract, main text and references, which is equivalent to 20 total pages, double-spaced with 12 point Times New Roman font) on marketing, the emphasis being on immediacy and current interest. The journal offers a medium for the truly rapid publication of research results.
The focus of Marketing Letters is on empirical findings, methodological papers, and theoretical and conceptual insights across areas of research in marketing.
Marketing Letters is required reading for anyone working in marketing science, consumer research, methodology, and marketing strategy and management.
The key subject areas and topics covered in Marketing Letters are: choice models, consumer behavior, consumer research, management science, market research, sales and advertising, marketing management, marketing research, marketing science, psychology, and statistics.
Officially cited as: Mark Lett
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