本文關(guān)鍵詞： 媒體關(guān)注 內(nèi)部控制質(zhì)量 企業(yè)價(jià)值　出處：《江蘇大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

【摘要】：在新興和轉(zhuǎn)型經(jīng)濟(jì)體里,國家法律制度的完善并非朝夕可就,所以在經(jīng)濟(jì)市場往往出現(xiàn)非正式制度與其相互補(bǔ)充,媒體關(guān)注就是這樣一種重要的外部監(jiān)督力量。它能夠影響社會(huì)輿情作用于上市公司,并能夠?qū)ι鲜泄镜慕?jīng)營信息的透明度產(chǎn)生影響,從而提升利益相關(guān)者和社會(huì)公眾以及監(jiān)管機(jī)構(gòu)對(duì)上市公司的認(rèn)知度。促使上市公司的管理層重視公司業(yè)績,媒體的治理作用已經(jīng)得到了國內(nèi)外學(xué)者的肯定。由于多發(fā)的財(cái)務(wù)舞弊事件,內(nèi)部控制制度隨著法律和法規(guī)的頒布也逐步得到了重視,企業(yè)的內(nèi)部控制制度成為一種內(nèi)部治理機(jī)制。建立有效的企業(yè)內(nèi)部控制制度可以降低會(huì)計(jì)處理程序的差錯(cuò)風(fēng)險(xiǎn)。由于內(nèi)部控制的制衡性原則存在,既可以約束上市公司高管的行為,又降低代理成本和控制企業(yè)財(cái)務(wù)風(fēng)險(xiǎn),提高經(jīng)營管理效率,從而影響了上市公司的企業(yè)價(jià)值。媒體關(guān)注也可以減少上市公司管理人員的自利行為,提高對(duì)上市公司的高管人員的監(jiān)督,增強(qiáng)了保護(hù)股東和債權(quán)人的作用力度。媒體關(guān)注在提高企業(yè)聲譽(yù)的同時(shí)向外界傳遞有利信號(hào),從這也可以看出內(nèi)部控制制度和媒體關(guān)注是從內(nèi)和外兩個(gè)角度發(fā)揮公司治理的作用�；诖�,文章對(duì)媒體關(guān)注、內(nèi)部控制質(zhì)量以及企業(yè)價(jià)值進(jìn)行研究和討論。在眾多國內(nèi)外學(xué)者研究兩兩關(guān)系的基礎(chǔ)上,通過對(duì)三者關(guān)系的梳理和分析,運(yùn)用stata11.0軟件處理本文收集數(shù)據(jù):主要應(yīng)用于固定效應(yīng)和隨機(jī)效應(yīng)模型的選擇、中介效應(yīng)的檢驗(yàn),并對(duì)實(shí)證結(jié)果進(jìn)行分析和探討。本文通過選取我國滬市的制造業(yè)上市公司2010-2015年數(shù)據(jù)進(jìn)行靜態(tài)面板回歸分析,得出下研究結(jié)論:(1)媒體關(guān)注可以提高上市公司的企業(yè)價(jià)值;(2)媒體關(guān)注與內(nèi)部控制質(zhì)量正相關(guān);(3)上市公司的內(nèi)部控制質(zhì)量是媒體關(guān)注與企業(yè)價(jià)值之間的中介效應(yīng)。本文突破以往只研究媒體關(guān)注的治理作用,利用中介效應(yīng)模型,對(duì)媒體關(guān)注如何影響企業(yè)價(jià)值作用路徑進(jìn)行分析討論,進(jìn)一步厘清了媒體關(guān)注、內(nèi)部控制質(zhì)量與企業(yè)價(jià)值之間的關(guān)系,增加了影響上市公司的企業(yè)價(jià)值因素理論的研究,豐富了研究視角和研究路徑,為以后的研究提供了基礎(chǔ)。
[Abstract]:In emerging and transition economies, improvements in national legal systems are not readily available, so informal institutions often complement each other in economic markets. Media concern is such an important external supervision force. It can affect the public opinion in the listed companies, and can have an impact on the transparency of operating information of listed companies. In order to enhance the stakeholders and the public as well as the regulatory body of the listed company awareness and promote the management of listed companies to attach importance to corporate performance. The governance role of the media has been recognized by domestic and foreign scholars. Due to the frequent financial fraud, the internal control system has been gradually attached importance with the promulgation of laws and regulations. The internal control system of an enterprise has become an internal governance mechanism. The establishment of an effective internal control system can reduce the error risk of accounting procedures. It can not only restrain the behavior of the executives of listed companies, but also reduce the agency costs and control the financial risks of enterprises, and improve the efficiency of management. Thus affecting the corporate value of listed companies. Media attention can also reduce the self-interest behavior of managers of listed companies and improve the supervision of executives of listed companies. Enhanced protection of shareholders and creditors. Media attention while improving the reputation of the enterprise while sending a positive signal to the outside world. From this we can also see that the internal control system and media concern are from the internal and external perspectives to play the role of corporate governance. Based on this, the article pays attention to the media. Internal control quality and enterprise value are studied and discussed. On the basis of many scholars at home and abroad to study the relationship between the two, through the combing and analysis of the three relationships. Using stata11.0 software to deal with the data collected in this paper: mainly used in the fixed effect and random effect model selection, intermediary effect test. And the empirical results are analyzed and discussed. This paper carries out static panel regression analysis by selecting the listed manufacturing companies in Shanghai Stock Exchange of China from 2010 to 2015. The following research conclusions: 1) Media attention can improve the corporate value of listed companies; 2) Media attention is positively related to the quality of internal control; 3) the internal control quality of listed companies is the intermediary effect between media concern and enterprise value. This paper analyzes and discusses how media attention affects the role of enterprise value, and further clarifies the relationship between media concern, internal control quality and enterprise value. It increases the research on the theory of enterprise value factor which affects the listed company, enriches the research angle and research path, and provides the foundation for the future research.
【學(xué)位授予單位】：江蘇大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F406.7;F425

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