Abstract
Existing research has demonstrated how media elites influence journalistic practices, but much less has been done to help explain why journalists grant such a high status to select peers in the first place. This study explores rank allocation within a news ecosystem through the theoretical framework of social hierarchy. Survey data from a representative sample of U.S.-based financial journalists indicate that peer perceptions of prestige (i.e., deference earned by expertise, knowledge, or success) significantly and consistently drive group consensus on the most influential members within a news beat. The theoretical, methodological, and practical implications of the study findings are discussed.
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