Fictional Expectations and the Global Media in the Greek Debt Crisis: A Topic Modeling Approach

Data appendix to: Volker Daniel/Magnus Neubert/Agnes Orban: Fictional Expectations and the Global Media in the Greek Debt Crisis: A Topic Modeling Approach, in: Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook 59 (2018)/2, S. 525-566. https://doi.org/10.1515/jbwg-2018-0018 We study the role of global media during the Greek debt crisis and relate it to the transmission of events on financial actors’ expectations. To identify news coverage about the Greek debt crisis, we apply topic modeling to a newly com- piled dataset of over 430,000 articles from The International New York Times and Financial Times from 2009 to 2015. We identify a Greek debt crisis topic and relate it to events concerning Greece during this time period. Our finding is that events are only relevant for financial markets when they are covered in the media, whereas events without media coverage have no effect. News coverage without immediate events is equally irrelevant for financial markets

The Berlin stock exchange and the geography of German stock markets in 1913

Multiple stock exchanges have been in operation in Germany since the nineteenth century. We provide new data on the number of listed firms, the market value and industry characteristics for the benchmark year 1913 to understand the geography of stock market listings. We find that large firms tended to be listed on the Berlin stock exchange while the regional stock exchanges were important hosts for small- and medium-sized firms. We show that the geographic distance between the stock exchange and corporate headquarters is negatively related to listing decisions. Data appendix to: Carsten Burhop/Sibylle Lehmann-Hasemeyer: The Berlin stock exchange and the geography of German stock markets in 1913, in: European Review of Economic History 20 (2016)/4, pp. 429–451, https://doi.org/10.1093/ereh/hew010

The Berlin stock exchange and the geography of German stock markets in 1913

Multiple stock exchanges have been in operation in Germany since the nineteenth century. We provide new data on the number of listed firms, the market value and industry characteristics for the benchmark year 1913 to understand the geography of stock market listings. We find that large firms tended to be listed on the Berlin stock exchange while the regional stock exchanges were important hosts for small- and medium-sized firms. We show that the geographic distance between the stock exchange and corporate headquarters is negatively related to listing decisions. Data appendix to: Carsten Burhop/Sibylle Lehmann-Hasemeyer: The Berlin stock exchange and the geography of German stock markets in 1913, in: European Review of Economic History 20 (2016)/4, pp. 429–451, https://doi.org/10.1093/ereh/hew01