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Negative Press and Corporate Policy

hal.structure.identifierDauphine Recherches en Management [DRM]
dc.contributor.authorLaguna, Marie-Aude
dc.date.accessioned2019-10-01T09:32:20Z
dc.date.available2019-10-01T09:32:20Z
dc.date.issued2018
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/19943
dc.language.isoenen
dc.subjectpublicityen
dc.subjectshare repurchasesen
dc.subjectpublic relationen
dc.subject.ddc658.4en
dc.subject.classificationjelM.M1.M10en
dc.subject.classificationjelG.G3.G34en
dc.subject.classificationjelD.D2.D22en
dc.titleNegative Press and Corporate Policyen
dc.typeCommunication / Conférence
dc.description.abstractenDo executives change corporate policy in response to negative press? To study this question, we investigate whether the amount of news coverage triggered by industrial accidents affects the corporate policy of the firms involved. We show that firms increase share repurchases and advertising expenses during the two years following an accident. This positive impact on payout and advertising is limited to accidents covered by a large number of news stories, and occurs regardless of other accident-and firm-specific characteristics. Finally, the impact is more pronounced among recently-appointed CEOs and better-governed firms. Overall, we show that firms’ executives, and not shareholders, behave as if they feared the consequences of accidents on the firm’s image.en
dc.subject.ddclabelPrise de décision, gestion de criseen
dc.relation.conftitle2018 Financial Management Association (FMA) Annual Meetingen
dc.relation.confdate2018-10
dc.relation.confcitySan Diegoen
dc.relation.confcountryUnited Statesen
dc.relation.forthcomingnonen
dc.description.ssrncandidatenonen
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewednonen
dc.relation.Isversionofjnlpeerreviewednonen
dc.date.updated2019-09-30T14:48:22Z
hal.identifierhal-02302221*
hal.version1*
hal.author.functionaut


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