{"id":323,"date":"2017-05-24T16:13:53","date_gmt":"2017-05-24T14:13:53","guid":{"rendered":"http:\/\/slais.ijs.si\/?p=323"},"modified":"2019-02-11T09:41:25","modified_gmt":"2019-02-11T08:41:25","slug":"279th-solomon-seminar-front-page-news-the-effect-of-news-positioning-on-financial-markets","status":"publish","type":"post","link":"https:\/\/slais.ijs.si\/index.php\/279th-solomon-seminar-front-page-news-the-effect-of-news-positioning-on-financial-markets\/","title":{"rendered":"279th Solomon Seminar: Front Page News: The Effect of News Positioning on Financial Markets"},"content":{"rendered":"<p>On Friday, 2017-05-26, at 10:00 in the Orange Room of <a href=\"https:\/\/www.ijs.si\/ijsw\">Jo\u017eef Stefan Institute<\/a>, Nastya Fedyk from Harvard Business School will speak about estimating the effect of attention to news on financial markets, using quasi-random variation in positioning of news articles on the Bloomberg terminal. He will focus on a category of news articles, some of which are pinned to the prominent &#8220;front page&#8221; positions at the top of the news screen in a process independent of their content. This offers a natural experiment in positioning between the articles that are pinned and those that are not. The front page and non-front page articles are indistinguishable by either algorithmic analysis, or by the target audience of active finance professionals. He finds that pinning a news article to the front page leads to 280% \u00a0higher trading volumes and 180% larger price changes within the first ten minutes after publication. These articles also see a much stronger short-term price drift, with 21% higher continuation in returns at the five-minute level. The effect is strongest during the first 30-45 minutes after the news, and partially reverses over subsequent hours. A comparison against differential reactions following news articles of varying editorial importance indicates that news positioning plays an even stronger role in driving market activity than news importance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Friday, 2017-05-26, at 10:00 in the Orange Room of Jo\u017eef Stefan Institute, Nastya Fedyk from Harvard Business School will speak about estimating the effect of attention to news on financial markets, using quasi-random variation in positioning of news articles on the Bloomberg terminal. He will focus on a category of news articles, some of [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-323","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/slais.ijs.si\/index.php\/wp-json\/wp\/v2\/posts\/323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/slais.ijs.si\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/slais.ijs.si\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/slais.ijs.si\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/slais.ijs.si\/index.php\/wp-json\/wp\/v2\/comments?post=323"}],"version-history":[{"count":1,"href":"https:\/\/slais.ijs.si\/index.php\/wp-json\/wp\/v2\/posts\/323\/revisions"}],"predecessor-version":[{"id":324,"href":"https:\/\/slais.ijs.si\/index.php\/wp-json\/wp\/v2\/posts\/323\/revisions\/324"}],"wp:attachment":[{"href":"https:\/\/slais.ijs.si\/index.php\/wp-json\/wp\/v2\/media?parent=323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/slais.ijs.si\/index.php\/wp-json\/wp\/v2\/categories?post=323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/slais.ijs.si\/index.php\/wp-json\/wp\/v2\/tags?post=323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}