Abstract

Media coverage not only provides much firm-specific information to the investor public intuitionally, but also is informative to the stock price. This study tries to examine whether media coverage is an important factor to stock returns on the Taiwan stock market. Our empirical results support this finding on the Taiwan stock market, and find investors can utilize momentum strategies to earn abnormal returns. These findings can provide some meaningful insights to e-business corporate manager, while releasing some news to the public.

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