Media’s Attention To Customers And Suppliers’ Behaviour Decision

Based on the media’s role of information dissemination and external supervision,scholars have studied the impact of media coverages on the behavior of market participants such as shareholders,creditors,management.However,there is little literature on the impact of media coverages on suppliers’ behavior.Combining theory with cases,this dissertation analyzes the information transmission and supervision of media from the perspective of the supply chain,which provides a solid theoretical basis for the follow-up study of the media’s attention to customers and the supplier’s behavior.Overall,this dissertation can be summarized into the following results:(1)Based on the information transmission function of the media in the supply chain,this dissertation examines how the media coverages of customers affects suppliers’information disclosure behavior from the perspective of enterprises hiding bad news.The empirical results show that the more the media coverages of customers,the less bad news hidden by supplier enterprises.(2)Based on the supervision and restraint of media in the supply chain relationship,this dissertation examines how media coverages of customers affect suppliers’ investment behavior from the perspective of enterprises innovation.The empirical results show that media coverages of customers can significantly improve the innovation level of supplier enterprises.(3)Based on the above two functions of media,this dissertation examines the comprehensive impact of media coverages of customers on the suppliers from the perspective of investment efficiency.The empirical results show that the more the media coverages of customers,the higher the investment efficiency of supplier enterprises.The results of this dissertation show that as an information dissemination intermediary and external supervision mechanism,the media not only have a direct impact on the enterprises reported,but also produce spillover effect along the supply chain and affect the behavior decision-making of supplier enterprises.Our findings are helpful for the media audience to fully understand the role of media in capital markets and can provide new ideas for government to strengthen the regulation of media in capital markets.