An Empirical Study Of Media Reputation And Corporate Governance On Business Performance Of Listed Financial Institutions In Taiwan Of China

With the development of information technology and the Internet,the news media has a more profound impact on the business development of listed companies.This study examines whether media reputation helps to capture the degree of corporate governance of financial institutions,which in turn affects their business performance indicators.Using a sample of financial stocks listed and traded on the Taiwan stock market in China,we constructed media reputation indicators for financial stocks using media exposure,text mining and sentiment tendency analysis methods to describe the dynamic changes in the media reputation of financial institutions,and conducted empirical analyses on various measures of corporate governance and corporate business performance to reveal their interactions.The empirical study found that media exposure of financial stocks did not have a positive impact on market performance or financial performance.However,the higher the average level of corporate governance as reflected in media coverage,the more it helps to improve the net share price ratio and also the financial performance.It is also found that there is a relationship between public sentiment and the share price of listed companies,with the more positive the sentiment,the more favourable the increase in share price.Corporate governance indicators measured by media coverage can capture the performance of corporate governance of financial institutions in real time,complementing existing corporate governance indicators.Media exposure and the intensity of corporate governance coverage are beneficial to the media reputation of financial institutions in Taiwan of China,and can play a role in the external corporate governance of financial institutions,and better media reputation and corporate governance will create corporate value and enhance corporate performance.