Media attention and regulatory efficiency of corporate violations: Evidence from China

被引：25
|
作者：
Jiang, Zhiqian [1 ]
Liu, Baixiao [2 ]
Liu, Jinsong [3 ]
Ying, Qianwei [4 ]
机构：
[1] Xiamen Univ, Sch Management, 422 Siming South Rd, Xiamen 361005, Fujian, Peoples R China
[2] Peking Univ, HSBC Business Sch, Shenzhen 518055, Peoples R China
[3] Tsinghua Univ, Sch Econ & Management, 30 Shuangqing Rd, Beijing 100084, Peoples R China
[4] Sichuan Univ, Business Sch, 29 Wangjiang Rd, Chengdu 610064, Sichuan, Peoples R China
来源：
JOURNAL OF ACCOUNTING AND PUBLIC POLICY | 2022年 / 41卷 / 03期
基金：
中国国家自然科学基金;
关键词：
Media attention; Regulatory efficiency; Corporate violations; POLITICAL CONNECTIONS; BIAS; INCENTIVES; TURNOVER; PRESS; FIRMS; POWER;
D O I：
10.1016/j.jaccpubpol.2021.106931
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We examine the influence of media attention on the regulatory efficiency of corporate violations in a restrictive media environment. Using a hand-collected sample of corporate violations in China during 1998-2018, we find that fraudulent firms accompanied by more negative media attention are associated with a higher hazard rate of the violation being investigated and enforced. The effect is not diminished by the political connections of the fraudulent firms and is robust after controlling for potential confounding factors. Our findings suggest that by influencing regulatory efficiency, the media serve as an effective governance mechanism even in markets with strict media control. (C) 2021 Elsevier Inc. All rights reserved.
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页数：25
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