A Multilingual Analysis of Corporate Governance News

26 Pages Posted: 8 May 2016 Last revised: 22 Aug 2016

Date Written: May 4, 2016

Abstract

In this study, we conduct a textual analysis of media news for a sample of Chinese ADRs and compare the topics discussed by English- and Chinese-language media outlets. Our findings suggest that a large proportion of corporate governance news articles published by Chinese media outlets appear to be overlooked by the English media. Next we investigate investors’ attention to Chinese corporate governance news. Our findings are consistent with the notion that high costs associated with searching, translating and processing foreign language news creates informational frictions for foreign investors.

Keywords: information processing, media, trading volume, corporate governance

JEL Classification: D82, G34, K42

Suggested Citation

Moniz, Andy, A Multilingual Analysis of Corporate Governance News (May 4, 2016). Available at SSRN: https://ssrn.com/abstract=2775319 or http://dx.doi.org/10.2139/ssrn.2775319

Andy Moniz (Contact Author)

Putnam Investments ( email )

One Post Office Square
Boston, MA 02109
United States

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