Media coverage and the stock market valuation of TARP participating banks

• Main Authors: NG, Tee Yong Jeffrey, Vasvari, Florin P., Wittenberg-Moerman, Regina
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2016
• Subjects: Capital Purchase Program; Capital Infusion; Valuation; Investor Sentiment; Media; Accounting; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/soa_research/1559; https://ink.library.smu.edu.sg/context/soa_research/article/2586/viewcontent/MediaCoverageStockMktTARP_2015_pp.pdf
• Institution: Singapore Management University

We examine the impact of media coverage of the Capital Purchase Program (CPP) under the Troubled Assets Relief Program on the equity market valuation of participating bank holding companies (CPP banks). We document substantial negative coverage of the CPP and its participants over the five quarters...