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In recent years there has been a great influx of sources for business and financial news, yet the hope that this financial media boom would lead to the democratization of the financial markets has not been realized. Thomas Schuster's The Markets and the Media explores why the expansion of economic communication has proven to be of only limited benefit, arguing that the financial media boom has had negative repercussions resulting in substantial costs for the individual as well as the system. The Markets and the Media stands alone in its class: It is the first comprehensive analysis focusing on the complex, intricate, and often puzzling relationship between the financial markets and the mass media. Featuring a comprehensive business bibliography, this book is a must-read for both finance experts and media scholars.
Thomas Schuster is associate professor of journalism at the Institute for Communication and Media Research, Leipzig University.
Part 1 Micro: Stock Recommendations and Stock PricesChapter 2 IntroductionChapter 3 The Publicity-Effect: The Big Moment of the GurusChapter 4 No News: Stock RecommendationsPart 5 Performance Distrubances: Reflexive Return-ReductionChapter 6 SummaryChapter 7 CodaPart 8 Meso: News Events and Price MovementsChapter 9 IntroductionChapter 10 State of the Art: Random Walks and Irrational ExuberanceChapter 11 News Effects: Rapid Return ReactionsChapter 12 Irregular Price RegularitiesChapter 13 World Events: The Effects of 'Big News'Chapter 14 SummaryPart 15 Macro: Meta-Communication and Market DynamicsChapter 16 IntroductionChapter 17 Feedback: The Media as 'Learning Lab'Chapter 18 News Structures: 'Use Value' and 'Narrative Imperative'Chapter 19 Media Manias: The 'CNBC-Effect'Chapter 20 Meta-Communication: Dynamic InteractionsChapter 21 Crash: Media and Market PanicsChapter 22 Summary and ConclusionsPart 23 Afterword: Critique of the Noise SystemPart 24 Appendix: Bibliography Business and Financial Communication
In this hard-hitting analysis, Thomas Schuster unmasks how the symbiotic relationship between a rapidly growing financial news media and the stock market gurus of leading investment banks victimized most of all the unsophisticated individual investor during the last stock market boom. This well-written text is a must read for individuals who do not want to jeopardize their financial well-being by following the investor hype of so-called experts.
Bernd Rolf, Michael Baptist Bauer, Stefanie Haas, Katharina Martin, Stefanie Pfister, Thomas Schuster, René Torkler, Erik Margraf, Jörg Peters, René Torkler
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