the stock price on new available information to investors, to find out, in this case, the impact of a negative article on the value of a soda brand. Whenever a negative article is published, the effect this has on the brand that is mentioned is negative, in the sense that for example demand might decrease for this product (Lang & Stulz, 1992). For investors and consumers to elaborate on the negative article and include producers that offer similar products, is a step that is easily taken (Lei, Dawar, & Lemmink, 2008). If the article
To what extent does negative news lead to competitive or contagion effects?
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