Paper by Dr Nikos Tsileponis awarded BAFA prize
28 April 2021
A paper by School of Accounting and Finance academic Dr Nikos Tsileponis has been awarded the BAFA Prize for the "Most outstanding paper published in 'The British Accounting Review' during 2020”.
The paper, entitled 'Do corporate press releases drive media coverage?', investigates whether firms can influence their business press coverage through the release of voluntary financial performance-related disclosures. In contrast to prior literature that almost exclusively studies mandatory earnings announcement releases, the focus in Dr Tsileponis's paper is on voluntary corporate disclosures about events the publication and timing of which are under the direct control of the firm's management.
On the paper, Dr Tsileponis said:
'Given the significant consequences of media coverage, which prior research shows reduces information asymmetry and affects the desirability of firms' securities, managers face incentives to influence their firms’ media coverage, and compete for media attention. This study examines the role of company-initiated information as a stimulus for media coverage and provides evidence consistent with media coverage being affected by firm level disclosure management. The most exciting aspect of the paper is that it focuses on a largely unexplored area, that is, the effect of voluntary corporate disclosures on firms' business press coverage. This allows us to capture managerial discretion over corporate disclosure choices and its impact on media coverage.'
On receiving the award, Dr Tsileponis continued:
'I am truly honoured and grateful to be the recipient of this award. I would like to express my gratitude to the members of the Editorial Board and Associate Editors of The British Accounting Review for giving us this award. I deeply thank the three anonymous reviewers and the Associate Editor who helped us improve the paper substantially during the revision process.'