Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies

Hana Marzouk; Wyeme Ben Mrad Douagi

doi:doi:10.11648/j.ijfbr.20230901.11

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Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies

Hana Marzouk, Wyeme Ben Mrad Douagi

Published in International Journal of Finance and Banking Research (Volume 9, Issue 1)

Received: 22 December 2022 Accepted: 17 January 2023 Published: 3 March 2023

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Abstract

Relevant financial information is a central concern in the daily life of investors. However, despite the deterioration of the role of classical media channels, the written press, the latter remains an undeniable tool influencing the stock market. In this context, we have collected 1720 articles published in the newspaper the press of Tunis, during 6 years going from 2010 until 2015. In addition, we have used two dynamic models, first to test the impact of verbal qualitative information of print media on the stock returns of Tunisian financial companies and second to test the impact of stock returns on qualitative verbal information of print media. The estimation of the model is performed by the generalized method of moments (GMM) in dynamic panels, using the sofware STATA 12. The results of the empirical study show on the one hand, that the stock exchange of Tunis reacts positively following the publication of positive qualitative information and on the other hand the stock exchange reacts negatively following the publication of negative qualitative information. In sum, despite the deterioration of the place of the written press, we noticed following this study that the qualitative information of classic media remains relevant. Bad information published negatively affects the market and more precisely stock returns. However, it is essential to emphasize good qualitative and quantitative financial communication in the traditional media for the smooth running of the Tunisian financial market.

Published in	International Journal of Finance and Banking Research (Volume 9, Issue 1)
DOI	10.11648/j.ijfbr.20230901.11
Page(s)	1-6
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2023. Published by Science Publishing Group

Keywords

Verbal Qualitative Information, Positive News, Negative News

References

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APA Style

Hana Marzouk, Wyeme Ben Mrad Douagi. (2023). Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies. International Journal of Finance and Banking Research, 9(1), 1-6. https://doi.org/10.11648/j.ijfbr.20230901.11

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Hana Marzouk; Wyeme Ben Mrad Douagi. Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies. Int. J. Finance Bank. Res. 2023, 9(1), 1-6. doi: 10.11648/j.ijfbr.20230901.11

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AMA Style

Hana Marzouk, Wyeme Ben Mrad Douagi. Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies. Int J Finance Bank Res. 2023;9(1):1-6. doi: 10.11648/j.ijfbr.20230901.11

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@article{10.11648/j.ijfbr.20230901.11,
  author = {Hana Marzouk and Wyeme Ben Mrad Douagi},
  title = {Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies},
  journal = {International Journal of Finance and Banking Research},
  volume = {9},
  number = {1},
  pages = {1-6},
  doi = {10.11648/j.ijfbr.20230901.11},
  url = {https://doi.org/10.11648/j.ijfbr.20230901.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20230901.11},
  abstract = {Relevant financial information is a central concern in the daily life of investors. However, despite the deterioration of the role of classical media channels, the written press, the latter remains an undeniable tool influencing the stock market. In this context, we have collected 1720 articles published in the newspaper the press of Tunis, during 6 years going from 2010 until 2015. In addition, we have used two dynamic models, first to test the impact of verbal qualitative information of print media on the stock returns of Tunisian financial companies and second to test the impact of stock returns on qualitative verbal information of print media. The estimation of the model is performed by the generalized method of moments (GMM) in dynamic panels, using the sofware STATA 12. The results of the empirical study show on the one hand, that the stock exchange of Tunis reacts positively following the publication of positive qualitative information and on the other hand the stock exchange reacts negatively following the publication of negative qualitative information. In sum, despite the deterioration of the place of the written press, we noticed following this study that the qualitative information of classic media remains relevant. Bad information published negatively affects the market and more precisely stock returns. However, it is essential to emphasize good qualitative and quantitative financial communication in the traditional media for the smooth running of the Tunisian financial market.},
 year = {2023}
}

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TY  - JOUR
T1  - Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies
AU  - Hana Marzouk
AU  - Wyeme Ben Mrad Douagi
Y1  - 2023/03/03
PY  - 2023
N1  - https://doi.org/10.11648/j.ijfbr.20230901.11
DO  - 10.11648/j.ijfbr.20230901.11
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 1
EP  - 6
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20230901.11
AB  - Relevant financial information is a central concern in the daily life of investors. However, despite the deterioration of the role of classical media channels, the written press, the latter remains an undeniable tool influencing the stock market. In this context, we have collected 1720 articles published in the newspaper the press of Tunis, during 6 years going from 2010 until 2015. In addition, we have used two dynamic models, first to test the impact of verbal qualitative information of print media on the stock returns of Tunisian financial companies and second to test the impact of stock returns on qualitative verbal information of print media. The estimation of the model is performed by the generalized method of moments (GMM) in dynamic panels, using the sofware STATA 12. The results of the empirical study show on the one hand, that the stock exchange of Tunis reacts positively following the publication of positive qualitative information and on the other hand the stock exchange reacts negatively following the publication of negative qualitative information. In sum, despite the deterioration of the place of the written press, we noticed following this study that the qualitative information of classic media remains relevant. Bad information published negatively affects the market and more precisely stock returns. However, it is essential to emphasize good qualitative and quantitative financial communication in the traditional media for the smooth running of the Tunisian financial market.
VL  - 9
IS  - 1
ER  -

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Author Information

Hana Marzouk

Finance & Accounting Department, Faculty of Economics and Management of Tunis, University of Tunis El Manar, Tunis, Tunisia
Wyeme Ben Mrad Douagi

Finance & Accounting Department, Faculty of Economics and Management of Tunis, University of Tunis El Manar, Tunis, Tunisia

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APA Style

Hana Marzouk, Wyeme Ben Mrad Douagi. (2023). Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies. International Journal of Finance and Banking Research, 9(1), 1-6. https://doi.org/10.11648/j.ijfbr.20230901.11

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ACS Style

Hana Marzouk; Wyeme Ben Mrad Douagi. Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies. Int. J. Finance Bank. Res. 2023, 9(1), 1-6. doi: 10.11648/j.ijfbr.20230901.11

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AMA Style

Hana Marzouk, Wyeme Ben Mrad Douagi. Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies. Int J Finance Bank Res. 2023;9(1):1-6. doi: 10.11648/j.ijfbr.20230901.11

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@article{10.11648/j.ijfbr.20230901.11,
  author = {Hana Marzouk and Wyeme Ben Mrad Douagi},
  title = {Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies},
  journal = {International Journal of Finance and Banking Research},
  volume = {9},
  number = {1},
  pages = {1-6},
  doi = {10.11648/j.ijfbr.20230901.11},
  url = {https://doi.org/10.11648/j.ijfbr.20230901.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20230901.11},
  abstract = {Relevant financial information is a central concern in the daily life of investors. However, despite the deterioration of the role of classical media channels, the written press, the latter remains an undeniable tool influencing the stock market. In this context, we have collected 1720 articles published in the newspaper the press of Tunis, during 6 years going from 2010 until 2015. In addition, we have used two dynamic models, first to test the impact of verbal qualitative information of print media on the stock returns of Tunisian financial companies and second to test the impact of stock returns on qualitative verbal information of print media. The estimation of the model is performed by the generalized method of moments (GMM) in dynamic panels, using the sofware STATA 12. The results of the empirical study show on the one hand, that the stock exchange of Tunis reacts positively following the publication of positive qualitative information and on the other hand the stock exchange reacts negatively following the publication of negative qualitative information. In sum, despite the deterioration of the place of the written press, we noticed following this study that the qualitative information of classic media remains relevant. Bad information published negatively affects the market and more precisely stock returns. However, it is essential to emphasize good qualitative and quantitative financial communication in the traditional media for the smooth running of the Tunisian financial market.},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - Verbal Qualitative Information in the Daily "La Presse" and the Stock Performance of Tunisian Financial Companies
AU  - Hana Marzouk
AU  - Wyeme Ben Mrad Douagi
Y1  - 2023/03/03
PY  - 2023
N1  - https://doi.org/10.11648/j.ijfbr.20230901.11
DO  - 10.11648/j.ijfbr.20230901.11
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 1
EP  - 6
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20230901.11
AB  - Relevant financial information is a central concern in the daily life of investors. However, despite the deterioration of the role of classical media channels, the written press, the latter remains an undeniable tool influencing the stock market. In this context, we have collected 1720 articles published in the newspaper the press of Tunis, during 6 years going from 2010 until 2015. In addition, we have used two dynamic models, first to test the impact of verbal qualitative information of print media on the stock returns of Tunisian financial companies and second to test the impact of stock returns on qualitative verbal information of print media. The estimation of the model is performed by the generalized method of moments (GMM) in dynamic panels, using the sofware STATA 12. The results of the empirical study show on the one hand, that the stock exchange of Tunis reacts positively following the publication of positive qualitative information and on the other hand the stock exchange reacts negatively following the publication of negative qualitative information. In sum, despite the deterioration of the place of the written press, we noticed following this study that the qualitative information of classic media remains relevant. Bad information published negatively affects the market and more precisely stock returns. However, it is essential to emphasize good qualitative and quantitative financial communication in the traditional media for the smooth running of the Tunisian financial market.
VL  - 9
IS  - 1
ER  -

Copy | Download