Understanding financial institutions – The role of reading economic news in Germany and the UK

This chapter argues that the news media play an important factor in educating the public about financial institutions. It presents some novel survey results, exploring the role of economic news use for the perceived understanding of financial institutions in Germany and the UK. Two web-based surveys were conducted: one in the UK in winter 2018 and one in Germany in summer 2019. Findings show that economic news use is positively related with a better perceived understanding of financial institutions in both countries, even after controlling for demographics and financial socialization. We find that the level of perceived understanding of financial institutions is positively related with education and income and negatively related with being female. The need for information significantly impacted the relationship between economic news use and understanding of financial institutions in the UK but not in Germany. Practical implications for economic and financial news journalists are discussed

Reciprocal influence? Investigating implicit frames in press releases and financial newspaper coverage during the German banking crisis

This study investigates the interrelation of implicit frames in press releases by the two largest German banks (Deutsche Bank, Commerzbank) and the German financial media from 2007 until 2013. Findings suggest that an increase in the salience of certain frames in press releases by German banks resulted in a decrease of that same frame in the financial media the subsequent months. Furthermore, time series analyses indicate that the banks adopted frames that were present in the media the previous month. The results imply a resistance of German financial media towards the frames used by Deutsche Bank and Commerzbank

News media coverage and initial public offerings in Germany: Explaining flotation performance

Purpose The purpose of this paper is to investigate the relationships of news media coverage and the performance of initial public offerings (IPOs) in Germany. The aim is to find out how media attention, media sentiment, corporate information, and recency of news are related to the flotation performance of firms that go public. Design/methodology/approach 50 IPOs that went public in Germany between January 2011 and December 2015 were investigated. In total, 3,644 German speaking articles dealing with the IPOs were manually analyzed. Hierarchical OLS regressions were performed to find out how news media variables relate with the flotation performance of German IPOs (cf. underpricing, share price percentage gain after second day of trading). It was furthermore distinguished between news media coverage six days prior to the IPO and coverage on the day of the IPO itself. Findings While more media attention devoted to the IPOs on the day of their flotation might lead to a share price percentage gain after the second day of trading, negativity in the news media and information about new products and products of the IPO firm might be negatively related with their flotation performance. However, information about the strategy change of the IPO firms seems to be positively related with the underpricing of IPOs. Furthermore, news media coverage on the day of the IPO itself seems to be more influential for the flotation performance with regard to negative sentiment and information about new products. Practical implications Financial communication professionals should manage media representations of IPO firms before and on the day of the IPO itself. In this vein, negative media coverage should be prevented and information about new products and products of the IPO firm should be considered with caution. Instead, talking about the strategy of the IPO firm might be advantageous for the flotation performance. Originality/value This study evolved from a lack of empirical research on the interrelationships between news media and stock market prices in communication science, particularly with regard to IPOs. The study contributes to previous research in paying attention to corporate information and the recency of news when trying to explain IPO performances. The findings of this study provide implications for strategic financial communication and the role of managing news media of firms that go public

Digital diplomacy in GCC countries: strategic communication of Western embassies on Twitter

Drawing upon online communication research, this study identifies six effective communication strategies for social media-based diplomacy on Twitter: interactive, personalized, positive, relevant, and transparent communication among a broad network of stakeholders. By using an extensive mix-method design (i.e., combining a manual content and automated network analyses, N = 4438 tweets), this research examines to what extent these communication strategies are adopted on Twitter by Western embassies active in countries from the Gulf Cooperation Council. We found that embassies are not utilizing social media to its full potential. Although embassies are transparent, use positive sentiment in their online communication and post relevant information to their stakeholders, they hardly engage in direct interactive and personal communication, and only reach out to a limited group of stakeholders. We recommend embassies to put more emphasis on two-way interactive communication with a vast variety of stakeholders

Modulating between 2e^- and 4e^- pathway in the oxygen reduction reaction with laser-synthesized iron oxide-grafted nitrogen-doped carbon

In this study, we demonstrate the tuning of the oxygen reduction reaction (ORR) by iron/iron oxide nanoparticle grafted laser-patterned nitrogen-doped carbon (LP-NC) electrodes. Depending on the preparation route, i.e. addition of a molecular Fe(NO3)2 precursor before (route 1) or after pre-carbonization (route 2) of the citric acid / urea precursors, either the 4e- or the 2e- pathway in the ORR is facilitated leading to either H2O or H2O2 as a reaction product, respectively. The kinetic reaction conditions afford mixed valence metal oxide nanoparticles embedded in LP-NC in the form of either Fe2O3/Fe or Fe2O3/FeO/Fe, respectively, facilitated by an in situ carbothermal reduction during the laser-induced carbonization. In HR(S)TEM analysis we found evidence for the occurrence of Fe2O3 in the η- or α- phase, depending on the preparation route. Reciprocally, the graphitization is also affected by the preparation route leading to either homogeneous graphitization or locally a graphitized shell structures around the nanoparticles. In the 4e- mediated ORR facilitated by η-Fe2O3/Fe@LP-NC onset potentials as low as 0.70 V (vs. RHE) with a H2O2 production efficiency 4% and 10 % in alkaline and neutral electrolyte, respectively, were determined. On the other hand, α-Fe2O3/FeO/Fe@LP-NC present onset potentials for the 2e- mediated ORR is as low as 0.77 with a H2O2 production efficiency of nearly 80%

Solar and Atmospheric Neutrinos: Background Sources for the Direct Dark Matter Searches

In experiments for direct dark matter searches, neutrinos coherently scattering off nuclei can produce similar events as Weakly Interacting Massive Particles (WIMPs). The calculated count rate for solar neutrinos in such experiments is a few events per ton-year. This count rate strongly depends on the nuclear recoil energy threshold achieved in the experiments for the WIMP search. We show that solar neutrinos can be a serious background source for direct dark matter search experiments using Ge, Ar, Xe and CaWO_4 as target materials. To reach sensitivities better than approximatly 10^-10 pb for the elastic WIMP nucleon spin-independent cross section in the zero-background limit, energy thresholds for nuclear recoils should be approximatly >2.05 keV for CaWO_4, >4.91 keV for Ge, >2.89 keV for Xe, and >8.62 keV for Ar as target material. Next-generation experiments should not only strive for a reduction of the present energy thresholds but mainly focus on an increase of the target mass. Atmospheric neutrinos limit the achievable sensitivity for the background-free direct dark matter search to approximatly >10^-12 pb.Comment: accepted by Astroparticle Physic

A common theme in extracellular fluids of beetles: extracellular superoxide dismutases crucial for balancing ROS in response to microbial challenge

Extracellular Cu/Zn superoxide dismutases (SODs) are critical for balancing the level of reactive oxygen species in the extracellular matrix of eukaryotes. In the present study we have detected constitutive SOD activity in the haemolymph and defensive secretions of different leaf beetle species. Exemplarily, we have chosen the mustard leaf beetle, Phaedon cochleariae, as representative model organism to investigate the role of extracellular SODs in antimicrobial defence. Qualitative and quantitative proteome analyses resulted in the identification of two extracellular Cu/Zn SODs in the haemolymph and one in the defensive secretions of juvenile P. cochleariae. Furthermore, quantitative expression studies indicated fat body tissue and defensive glands as the main synthesis sites of these SODs. Silencing of the two SODs revealed one of them, PcSOD3.1, as the only relevant enzyme facilitating SOD activity in haemolymph and defensive secretions in vivo. Upon challenge with the entomopathogenic fungus, Metarhizium anisopliae, PcSOD3.1-deficient larvae exhibited a significantly higher mortality compared to other SOD-silenced groups. Hence, our results serve as a basis for further research on SOD regulated host-pathogen interactions. In defensive secretions PcSOD3.1-silencing affected neither deterrent production nor activity against fungal growth. Instead, we propose another antifungal mechanism based on MRJP/yellow proteins in the defensive exudates