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The Impact Of Local Broadband Coverage On U.S. Firms’ Information Environment, Zhiyuan Tu
The Impact Of Local Broadband Coverage On U.S. Firms’ Information Environment, Zhiyuan Tu
Dissertations, Theses, and Capstone Projects
This study investigates the impact of local broadband coverage on the information environment of firms located in the United States. I hypothesize that more intensive local broadband coverage improves the overall quality of a firm’s information environment by allowing more locally generated firm-specific news to be more broadly disseminated via the Internet. I use the Federal Communication Commission (FCC)’s form 477 data to measure the intensity of local broadband coverage. I find that more intensive local broadband coverage near a firm is associated with a firm having smaller earnings surprises, and lower abnormal information asymmetry around quarterly earnings announcements. These …