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Stock Price Reactions to Public TV Programs on Listed Japanese Companies

Author

Listed:
  • Fumiko Takeda

    (University of Tokyo)

  • Hiroaki Yamazaki

    (University of Tokyo)

Abstract

This paper investigates stock price reactions to Japan's popular TV program "Project X," which was broadcast on NHK between 2000 and 2005. By using a standard event study methodology, we found that stock prices of these companies increased on average after the broadcast. In particular, the programs focusing on product development and marketing tended to raise stock prices.

Suggested Citation

  • Fumiko Takeda & Hiroaki Yamazaki, 2006. "Stock Price Reactions to Public TV Programs on Listed Japanese Companies," Economics Bulletin, AccessEcon, vol. 13(7), pages 1-7.
    • Handle: RePEc:ebl:ecbull:eb-06m20002
    as

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    File URL: http://www.accessecon.com/pubs/EB/2006/Volume13/EB-06M20002A.pdf
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    References listed on IDEAS

    as
    1. Merton, Robert C, 1987. "A Simple Model of Capital Market Equilibrium with Incomplete Information," Journal of Finance, American Finance Association, vol. 42(3), pages 483-510, July.
    2. Frank Fehle & Sergey Tsyplakov & Vladimir Zdorovtsov, 2005. "Can Companies Influence Investor Behaviour through Advertising? Super Bowl Commercials and Stock Returns," European Financial Management, European Financial Management Association, vol. 11(5), pages 625-647, November.
    3. A. Craig MacKinlay, 1997. "Event Studies in Economics and Finance," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 13-39, March.
    4. Gur Huberman & Tomer Regev, 2001. "Contagious Speculation and a Cure for Cancer: A Nonevent that Made Stock Prices Soar," Journal of Finance, American Finance Association, vol. 56(1), pages 387-396, February.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Swamy, Vighneswara & Dharani, M. & Takeda, Fumiko, 2019. "Investor attention and Google Search Volume Index: Evidence from an emerging market using quantile regression analysis," Research in International Business and Finance, Elsevier, vol. 50(C), pages 1-17.
    2. María José Ayala & Nicolás Gonzálvez-Gallego & Rocío Arteaga-Sánchez, 2024. "Google search volume index and investor attention in stock market: a systematic review," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-29, December.
    3. Li, Cong-Cong & Xu, Hai-Chuan & Zhou, Wei-Xing, 2020. "News coverage and portfolio returns: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 60(C).
    4. Adachi, Yuta & Masuda, Motoki & Takeda, Fumiko, 2017. "Google search intensity and its relationship to the returns and liquidity of Japanese startup stocks," Pacific-Basin Finance Journal, Elsevier, vol. 46(PB), pages 243-257.
    5. Takeda, Fumiko & Wakao, Takumi, 2014. "Google search intensity and its relationship with returns and trading volume of Japanese stocks," Pacific-Basin Finance Journal, Elsevier, vol. 27(C), pages 1-18.
    6. Vighneswara Swamy & M. Dharani, 2020. "RETRACTED ARTICLE: Google Search Intensity and the Investor Attention Effect: A Quantile Regression Approach," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 18(2), pages 403-423, June.
    7. Parikh Abhishek, 2019. "Impact of demonetization on shareholders` wealth: case of India," Asian Journal of Empirical Research, Asian Economic and Social Society, vol. 9(9), pages 217-229, September.
    8. Nguyen, Cuong & Hoang, Lai & Shim, Jungwook & Truong, Phuong, 2020. "Internet search intensity, liquidity and returns in emerging markets," Research in International Business and Finance, Elsevier, vol. 52(C).

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    More about this item

    Keywords

    Event studies;

    JEL classification:

    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics
    • L8 - Industrial Organization - - Industry Studies: Services

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