Information transmission between large shareholders and stock volatility

Li, Jie; Zhang, Yongjie; Wang, Lidan

doi:10.1016/j.najef.2021.101551

Cited by 7 publications

(1 citation statement)

References 47 publications

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“…Second, our study further introduces a social network approach to extract the differentiation in the mechanisms of different co‐shareholding network positions – degree centrality and structural holes – by analysing the influence of negative media coverage. Although social network research has clarified that different network locations (e.g., centrality and structural holes) have different impacts on firms, most existing studies of shareholder networks treat them as homogeneous factors, focusing on the information and resource advantages that special network locations bring (Li et al, 2019; Li, Wang, et al, 2021; Li, Zhang, & Wang, 2021). Only a few studies have distinguished between the two and have examined the heterogeneous impacts generated by different network locations.…”

Section: Introductionmentioning

confidence: 99%

How do co‐shareholding networks affect negative media coverage? Evidence from China

Wang

Hou

Liu

2023

Accounting & Finance

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This paper explores the relationship between the co‐shareholding network and negative media coverage in the context of China. We find that the high degree centrality and structural holes of firm's co‐shareholding networks have negative effects on the amount and severity of negative media coverage but through differentiated mechanisms. Focal firms in high degree centrality positions can decrease negative coverage by information sharing through the network, but focal firms in the position of structural holes reduce negative coverage through information control. Our findings can complement both research on the disparate impacts of co‐shareholding networks and the media spin effect.

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Section: Introductionmentioning

confidence: 99%