Seeing is believing: the impact of corporate scandal documentaries on stock prices

URN to cite this document:: urn:nbn:de:bvb:355-epub-786068
DOI to cite this document:: 10.5283/epub.78606

Dorfleitner, Gregor ; Piccoli, Pedro

License: Creative Commons Attribution 4.0
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Date of publication of this fulltext: 05 Feb 2026 06:00

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Abstract

We investigate the behavior of stocks after the launch of Netflix’s scandal documentaries on the corresponding firms. We document a significant fall in prices after the release of the documentaries that is not reversed in the weeks following their launch, resulting in an average cumulative abnormal return of −15.34% three months after the event day. We also find a significant increase in stocks’ ...