The Price of Media Capture and the Debasement of the French Newspaper Industry During the Interwar

Bibliographic Data

ID5753041
AuthorsVincent Bignon (Banque de France), Marc Flandreau (Banque de France)
Year2014
Volume74
Issue3
Pages799-830
Publication date2014-09-01
Open AccessYes
TypeARTICLE
VenueThe Journal of Economic History (JOURNAL)
Journal identifiersISSN: 0022-0507 • E-ISSN: 1471-6372
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s0022050714000606
OpenAlexW2140727359
LanguageEN
Citations received3
References cited27

Measurement of the value of "media capture" (the control of newspapers by business or political interests) is difficult. However, if capture is valuable, it should affect the price of newspaper shares. Useful information about the value of media capture should be retrievable from Stock Exchange data. Interwar France provides a unique setting to implement this idea because key newspapers floated voting and nonvoting stocks. Combined with takeover prices, data yield estimates of the price of media capture and of the time-series evolution of this price. Comparison with Britain sheds new light on a dark episode of French history

Advertising · Business · Economics · Media coverage · Media studies · Newspaper · Political science · Politics · Stock (firearms) · Stock exchange · Value (mathematics) · Voting · Yield (engineering) · Computer Science · Finance · History · Italy: Economic History and Contemporary Issues · Law · Media Influence and Politics · Political Influence and Corporate Strategies

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