Information transfer and press coverage: The case of the Gawler Craton gold boom

Ferguson, A; Crockett, A

Information transfer and press coverage: The case of the Gawler Craton gold boom

Ferguson, A

Crockett, A

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Publication Type:: Journal Article
Citation:: Pacific Basin Finance Journal, 2003, 11 (1), pp. 101 - 120
Issue Date:: 2003-01-01

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Field	Value	Language
dc.contributor.author	Ferguson, A https://orcid.org/0000-0003-0535-0643	en_US
dc.contributor.author	Crockett, A	en_US
dc.date.issued	2003-01-01	en_US
dc.identifier.citation	Pacific Basin Finance Journal, 2003, 11 (1), pp. 101 - 120	en_US
dc.identifier.issn	0927-538X	en_US
dc.identifier.uri	http://hdl.handle.net/10453/12897
dc.description.abstract	This study examines intra-industry information transfer after Helix Resources announced a successful drill result in the Gawler Craton region of South Australia that sparked significant investor interest in mining companies with tenement holdings in the area. This study shows that the price response of competing explorers was determined by press coverage immediately following the discovery of gold, but stocks that received the most press attention in the immediate post-announcement period suffered the greatest long-term underperformance. The research is the first in capital market literature to make use of geographical information systems software technology. © 2003 Elsevier Science B.V. All rights reserved.	en_US
dc.relation.ispartof	Pacific Basin Finance Journal	en_US
dc.relation.isbasedon	10.1016/S0927-538X(02)00096-3	en_US
dc.subject.classification	Finance	en_US
dc.title	Information transfer and press coverage: The case of the Gawler Craton gold boom	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	11	en_US
utslib.for	150201 Finance	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Accounting Discipline
utslib.copyright.status	open_access
pubs.issue	1	en_US
pubs.publication-status	Published	en_US
pubs.volume	11	en_US

Abstract:

This study examines intra-industry information transfer after Helix Resources announced a successful drill result in the Gawler Craton region of South Australia that sparked significant investor interest in mining companies with tenement holdings in the area. This study shows that the price response of competing explorers was determined by press coverage immediately following the discovery of gold, but stocks that received the most press attention in the immediate post-announcement period suffered the greatest long-term underperformance. The research is the first in capital market literature to make use of geographical information systems software technology. © 2003 Elsevier Science B.V. All rights reserved.

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http://hdl.handle.net/10453/12897