Why do political parties prioritise some policy issues over others? While the issue ownership theory suggests that parties emphasise policy issues on which they have an advantage in order to increase ...the salience of these issues among voters, the riding the wave theory argues instead that parties respond to voters by highlighting policy issues that are salient in the minds of citizens. This study sheds new light on the selective issue emphasis of political parties by analysing issue attention throughout the entire electoral cycle. On the basis of a quantitative text analysis of more than 40,000 press releases published by German parties from 2000 until 2010, this article provides empirical support for the riding the wave theory. It shows that political parties take their cues from voters by responding to the issue priorities of their electorate. The results have important implications for political representation and the role that parties play in democracies.
This study takes a case study approach to conduct a frame analysis of the press releases sent out by the Governor of New Mexico, Michelle Lujan Grisham, during the COVID-19 pandemic. The study argues ...that the governor saliently employed feminine language frames in her press releases while using masculine language frames sparingly in a feminine way, which I attribute to the context of the pandemic as well as the culture of her state. The findings are relevant considering the changing political climate and the then-novel nature of the pandemic. I also discuss the broader implications of the results on health crisis communication.
This paper investigates whether the business press serves as an information intermediary. The press potentially shapes firms' information environments by packaging and disseminating information, as ...well as by creating new information through journalism activities. We find that greater press coverage reduces information asymmetry (i. e., lower spreads and greater depth) around earnings announcements, with broad dissemination of information having a bigger impact than the quantity or quality of press-generated information. These results are robust to controlling for firm-initiated disclosures, market reactions to the announcement, and other information intermediaries. Our findings suggest that the press helps reduce information problems around earnings announcements.
I examine how media coverage of good and bad corporate news affects stock prices, by studying the effect of investor relations (IR) firms. I find that IR firms "spin" their clients' news, generating ...more media coverage of positive press releases than negative press releases. This spin increases announcement returns. Around earnings announcements, however, IR firms cannot spin the news and their clients' returns are significantly lower. This pattern is consistent with positive media coverage increasing investor expectations, creating disappointment around hard information. Using reporter connections and geographical links, I argue that IR firms causally affect both media coverage and returns.
We investigate to which extent large global businesses trading on the U.S. stock exchange S&P 500 have adopted circular economy (CE) thinking. The analysis in this article focuses on the press ...releases of firms listed in the S&P 500 stock index that constitutes publicly listed global large cap firms. We chose a 10-year period of 2005–2014. Within this period, we were able to access press releases from 101 firms that had press releases publicly available during that period and also had remained listed in the S&P 500 index. Our data covered over 90,000 documents with almost 40 million words. The number of words and press releases in our sample stayed relatively stable over time, with a slight decrease toward the end of the period. To examine the press releases, we used automated content analysis where specific phrases were searched and collected. There was no usage of the concept circular economy itself in any corporate communication in our sample.
Markov chain Monte Carlo (MCMC) methods have facilitated an explosion of interest in Bayesian methods. MCMC is an incredibly useful and important tool but can face difficulties when used to estimate ...complex posteriors or models applied to large data sets. In this paper, we show how a recently developed tool in computer science for fitting Bayesian models, variational approximations, can be used to facilitate the application of Bayesian models to political science data. Variational approximations are often much faster than MCMC for fully Bayesian inference and in some instances facilitate the estimation of models that would be otherwise impossible to estimate. As a deterministic posterior approximation method, variational approximations are guaranteed to converge and convergence is easily assessed. But variational approximations do have some limitations, which we detail below. Therefore, variational approximations are best suited to problems when fully Bayesian inference would otherwise be impossible. Through a series of examples, we demonstrate how variational approximations are useful for a variety of political science research. This includes models to describe legislative voting blocs and statistical models for political texts. The code that implements the models in this paper is available in the supplementary material.
This study examines the unintended effects of a pre-Reg FD practice that gave a broad group of sophisticated market participants 15-minute earlier access to all corporate press releases than the ...general public. We find that roughly one-eighth of the price discovery to earnings announcements issued during regular trading hours was due to privileged access to information in earnings press releases, with the 15-minute priority dissemination contributing to just over 50 percent of price discovery from all privileged access. In addition, we find that transient institutions benefited from priority dissemination, especially when the earnings contained good news. Finally, consistent with economic theory, we find that intraday bid-ask spreads decreased post-Reg FD for firms that had sufficient market liquidity to allow trading opportunities during the 15-minute window. Our study has implications for current discussions on whether preferential information distribution by firms and information intermediaries creates an uneven playing field among investors.
Uterine transplantation (UTx) associated with IVF restores fertility in women affected by absolute uterine factor infertility (AUFI). Pregnancies achieved both in women undergoing any solid organ ...transplantation and following IVF are associated with an increased risk of maternal and neonatal complications. This systematic review evaluated this risk in UTx-IVF treated women focusing on the safety and efficacy features of the treatment. Twenty-two studies and three press releases reporting on 52 UTx-IVF treatments were identified. Regarding the safety of treatment, 38/52 (73,1%) of surgical procedures led to the restoration of uterine function in recipients, 12/52 (23,1%) of recipients experienced post-operative complications requiring hysterectomy, and 2/52 (3,8%) of procedures failed before uterine recipients' surgery due to intra-operative complications. Regarding the efficacy of treatment, results focused on transplanted patients showing full recovery of organ functioning: 16/38 (42,1%) of patients achieved a pregnancy, including two women who gave births twice. UTx-IVF pregnancies led to 16 deliveries and all new-borns were healthy. Six out of 16 (37,5%) UTx pregnancies faced major complications during gestation. Preterm births occurred in 10/16 (62,5%) UTx deliveries. Our data indicates that the risk of gestational and delivery complications deserves important consideration in AUFI women receiving UTx-IVF treatments. However, these observations are preliminary and need to be revised after larger series of data are published.
Celotno besedilo
Dostopno za:
DOBA, IZUM, KILJ, NUK, PILJ, PNG, SAZU, SIK, UILJ, UKNU, UL, UM, UPUK
This study uses unobtrusive measures of the narcissism of chief executive officers (CEOs)--the prominence of the CEO's photograph in annual reports, the CEO's prominence in press releases, the CEO's ...use of first-person singular pronouns in interviews, and compensation relative to the second-highest-paid firm executive--to examine the effect of CEO narcissism on a firm's strategy and performance. Results of an empirical study of 111 CEOs in the computer hardware and software industries in 1992-2004 show that narcissism in CEOs is positively related to strategic dynamism and grandiosity, as well as the number and size of acquisitions, and it engenders extreme and fluctuating organizational performance. The results suggest that narcissistic CEOs favor bold actions that attract attention, resulting in big wins or big losses, but that, in these industries, their firms' performance is generally no better or worse than firms with non-narcissistic CEOs.
We examine the effect of negative news disclosures on acquisition decisions of firms. Using textual analysis of company press releases, we find that the percentage of negative news disclosed by a ...firm reduces its probability of acquisitions. However, for firms that do undertake acquisitions, the percentage of negative news disclosed is positively related to announcement‐period abnormal returns. Consistent with theoretical predictions, this positive relationship is more pronounced for acquirers with low pay‐performance sensitivity and those operating in concentrated industries. Overall, our results suggest that when managerial reputation concerns are high following negative news development, they make more prudent acquisition decisions.
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