Author(s)

Yijun Pan ¹

Affiliation(s)

¹ Department of Accounting, Sichuan Agricultural University, Chengdu, China

Corresponding Author

Yijun Pan

ABSTRACT

With the in-depth development of Internet technology, financial media has increasingly become an important role in capital market supervision. This paper empirically examines the corporate governance effect of the media from the perspective of non-punitive supervision. The research finds that, first, the media coverage of the company will cause the exchange to pay attention to and issue stock exchange comment letters; second, the trigger effect of media coverage is more obvious when the information environment is poor. Under the background of the implementation of post-supervision in China, this paper helps people understand the governance effect of the media in the process of exchange supervision, and provides suggestions for the regulatory authorities to formulate relevant policies.

KEYWORDS

Corporate Governance, Non-punitive Supervision, Media Coverage, Stock Exchange Comment Letters

CITE THIS PAPER

Yijun Pan, Media Governance and Non-punitive Supervision Research Based on Stock Exchange Comment Letters. Social Security and Administration Management (2024) Vol. 5: 68-72. DOI: http://dx.doi.org/10.23977/socsam.2024.050109.

REFERENCES

[1] Mokalkar, A., Deshmukh, A., Tiwari, R. and Akudari, S. (2016) Negative News No More. International Journal of Research in Advent Technology, Vol. Special Issue National Conference, 65-67.
[2] Weihua, Cu. and Peigong, Li. (2012) Empirical Study on Media as Watchdog in Corporate Governance. Nankai Business Review, 15(01), 33-42.
[3] Deming, Yang, and Can, Zhao. (2012) Media Monitoring, Media Governance and Managers' Compensation. Economic Research Journal, 47(06), 116-126.
[4] Xiaoxi, Li., Guochao, Yang, and Pingui, Rao. (2019) The Regulatory Role of Stock Exchange Comment Letters: Evidence from Textual Analysis of Merger and Acquisition Plans. Economic Research Journal, 5, 181-198.
[5] Lei, Gao, Jie, Zhang. (2008) Corporate Governance, Institutional Investors and Earnings Management. Accounting Research, 251(09), 64-72+96.
[6] Zongxin, Zhang, Jiajia, Zhou. (2019) Can analysts' attention improve the information transparency of listed companies? Based on the perspective of earnings management. Research on Financial and Economic Issues, 433(12), 49-57.

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