The financial news ecosystem: Journalists’ perceptions of group hierarchy

Abstract

While global financial journalism has grown substantially in recent decades, little is known about journalists’ perceptions of the key players in this news ecosystem. This study draws from research into social group hierarchies and prestige media to explore this question within the United States, the largest market for financial journalists. A national survey of financial journalists ( n = 349) shows that The Wall Street Journal and Andrew Ross Sorkin of The New York Times are perceived as the most influential financial media outlet and journalist, respectively. However, financial journalists are not a monolithic entity in terms of their perceptions of the leaders in the field. Some differences exist among the respondents as a function of their demographic and work-related characteristics. The theoretical and practical implications are discussed.