Postgraduate Research Opportunities - The Impact of Media Ownership Structure on News Coverage

Project summary:

This project explores the impact of media ownership on the content and tone of news coverage, with a particular focus on how institutional investors, such as hedge funds, influence news outlets and affect information dissemination. By examining these dynamics, the project aims to provide insights into the broader implications for financial markets, public opinion, and decision-making.

Start date: 1^st October 2025

Duration: 36

Funding:

• Home fee
• Stipend -UKRI stipend rate for UK students.

Funding details: Fully-funded scholarship for 3 years covers all university tuition fees (at UK level) and an annual tax-free stipend. International students are also eligible to apply, but they will need to find other funding sources to cover the difference between the home and international tuition fees. Exceptional international candidates may be provided funding for this difference. 

Number of places: 1

Number of places extra: There will be a shortlisting and interview process.

RCUK eligibility: No

Applicants should be highly motivated with an excellent academic background, including at least a 2.1 at the Bachelor's level (or equivalent). While Business majors are not required, a strong interest and some experience in accounting, finance, or economics are essential. Capabilities with analytical software and programming environments such as Python, R, MATLAB, and Stata is a plus.  Please see full eligibility criteria on Strathclyde University Scholarship Opportunities page.

Link to Uni webpage: www.strath.ac.uk/studywithus/postgraduateresearchphdopportunities/business/accountingfinance/impactofmediaownershipstructureonnewscoverage

Study modes eligibility: Full-time, Part-time

Fee Status: Home

We are living in the information age, where reliable and timely information is one of the most valuable resources. This information shapes public opinion, influences political decisions, affects the trading activities of individual and institutional investors (including hedge funds, mutual funds, and pension funds), impacts corporate decision-making, and guides the actions of public entities like central banks (Tetlock, 2007; Bushee et al., 2010; Solomon et al., 2014; Gao et al., 2020). Therefore, access to trusted, objective information is essential for decision making throughout our society.

However, this significance also incentivizes various groups to influence the type and tone of information that reaches the public. For example, according to Financial Times (2021), hedge funds and private equity firms now control half of the daily newspapers in the U.S., which raises concerns about the independence and objectivity of news coverage.

Despite the importance of this issue, there is limited evidence on how media ownership structures affect the content and tone of news coverage. This project aims to address this gap in the existing literature. Given the critical role of news in today's world, this project will provide valuable insights into the complex dynamics between media ownership and information dissemination.

Primary Supervisor: Lijie Yu.

Additional Supervisor/s: Andrew Marshall

Both supervisors will provide guidance on the methodological and empirical aspects of the project. The Department of Accounting and Finance, along with the faculty, organizes various workshops and seminars. Additionally, the student will benefit from targeted training in advanced textual analysis and machine learning through the Centre for Doctoral Training in FinTech. Support will also be provided for attending conferences, particularly in the second and third years of their PhD studies.

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