2015
DOI: 10.1111/soc4.12288
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The Press and the Financial Crisis: A Review of the Literature

Abstract: In recent years, a growing amount of scholarly interest has focused on the nature of the business/financial press and how it covers key economic events. Some of the literature examines the failings of the business press and its focus on narrow, short-term events instead of analytical writing that educates the public about macroeconomics, including long-term trends. Other studies have looked at how these tendencies affected press coverage before and during the 2008 financial crisis. As would be expected, the cr… Show more

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Cited by 26 publications
(24 citation statements)
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References 44 publications
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“…since the Great Depression” (Friedman, 2011, p. 17), including in Canada, where it had serious repercussions on both the French and English population (Halpern, Cakebread, Nicholls, & Puri, 2016). Our study corroborates the widespread view among scholars that the press did not cover adequately the events in the years leading to and during the crisis (Schiffrin, 2015) and that it relied on a narrow range of sources to report on the financial sector. Although there exists a body of research on various aspects of the business press and the media—such as the role of the press in promoting good corporate governance (Dyck & Zingales, 2002) or the reliance of the business press on elite sources (Tracy, 2012), little work has been done on the representation of sources in the Canadian press during the years “from boom to bust.” The following contribution offers some insight into the dynamics of voices in the financial news discourse, in English and in French, using a CDA approach.…”
Section: Introductionsupporting
confidence: 87%
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“…since the Great Depression” (Friedman, 2011, p. 17), including in Canada, where it had serious repercussions on both the French and English population (Halpern, Cakebread, Nicholls, & Puri, 2016). Our study corroborates the widespread view among scholars that the press did not cover adequately the events in the years leading to and during the crisis (Schiffrin, 2015) and that it relied on a narrow range of sources to report on the financial sector. Although there exists a body of research on various aspects of the business press and the media—such as the role of the press in promoting good corporate governance (Dyck & Zingales, 2002) or the reliance of the business press on elite sources (Tracy, 2012), little work has been done on the representation of sources in the Canadian press during the years “from boom to bust.” The following contribution offers some insight into the dynamics of voices in the financial news discourse, in English and in French, using a CDA approach.…”
Section: Introductionsupporting
confidence: 87%
“…The scope of our article was not to investigate into the reasons why reporters stick so closely to their sources’ word. In her review of the literature on business reporting, Schiffrin (2015) provides a list of cogent explanations from various strands of scholarship: journalists lack macroeconomic knowledge and, consequently, develop a short-term view of trends as well as a dependency on explanations provided by sources; they censor themselves so as to maintain good contacts with sources; their mind-set converges with their sources’ point of view through repetitive coverage; and journalists rely on news releases whose message is crafted and controlled by public relations professionals.…”
Section: Resultsmentioning
confidence: 99%
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“…Medya piyasadaki kaynaklarına çok yakın olması nedeniyle bekçi köpeği olarak hizmet vermemekle, ekonomi gazetecileri ekonomi okuryazarı olmamakla ve kısa dönemli eğilimlere odaklanmakla eleştirilmektedir. Medya ekonomistlerden nadiren alıntı yapmakta ve en temel makroekonomik ilkeleri kavramada yeteresiz kalmakta, dolayısıyla piyasa kaynaklarının açıklamalarına bağlı olmakta ve bunun sonucunda iş dünyasını destekleyen görüşleri yaymaktadır (Schiffrin, 2015).…”
Section: Literatür İncelemesiunclassified
“…For mainstream, nonfinancial media, this implies that economic news needs to be easy to grasp and entertaining (Clark, Thrift, & Tickell, 2004;Guerrera, 2009), which results in an overrepresentation of superficial news about well-known companies and big money deals (Doyle, 2006;Tambini, 2010;Tumber, 1993), at the expense of more critical, in-depth analyses key to investigative journalism. Additionally, with financial markets becoming increasingly complex, journalists themselves are often lacking the specialized knowledge to critically assess financial products and practices (Davis, 2006;Doyle, 2006;Guerrera, 2009;Marron et al, 2010;Schifferes, 2011;Schiffrin, 2015;Tambini, 2010;Tett, 2009;Usher, 2012).…”
Section: Structural Constraintsmentioning
confidence: 99%