German financial media’s responsiveness to Deutsche Bank’s cultural change

Abstract

Based on first-order and second-order agenda building theory, this study analyzes the responsiveness of German financial media to frames of the “cultural change” proclaimed in the banking industry, exemplified by Deutsche Bank. Findings suggest a difference between the two major German financial media outlets in the extent to which presence and tone of voice of frames in press releases by DB are adopted. While Handelsblatt primarily resonates the frames of DB in a neutral tone, Börsen-Zeitung presents a corrective counterpart.