A Study Of Media Coverage On Corporate Environmental Inputs

With the rapid economic development, the pubic put forward higher requirements of environmental, product quality, and social equity when they enjoy the convenience of substances. As an important part of the corporate social responsibility, environmental responsibility attracts attention of scholars and the public. Corporate Social Responsibility(CSR) theory started late, but lots of scholars have studied on what the CSR, what the factors and what impaction will the enterprises have if they take the social responsibility. Currently, with the rapid dissemination of information, fast and deep reports of the media affected the companies’ social image. Media is an important third-party which is independent of corporate, government, and pubic. Scholars come to realize the importance of the media. Scholars continue to explore the influence of media on the corporate social responsibility.After reviewing the theory of sustainable development, the externality theory, the stakeholder theory, the asymmetric information theory and the signal transmission theory, this paper analyzes the impact of media on investment in environmental protection and pollution prevention and control. On this basis, this paper selected2187research samples listed companies in shanghai from2009to2011. Using these research samples, this paper makes an empirical test of media on the investment in environmental protection and pollution prevention and control.First, the environment-related media reports as a starting point to explore the impact of the environment-related media reports on corporate environmental protection and pollution control investment. This paper attempts to discover the impact of media coverage on investment in environmental protection and pollution prevention and control. The study finds that media coverage significantly promotes investment in companies’ environmental protection and pollution prevention and control;Second, the paper examines the interaction of the media and market level on corporate environmental inputs. This study finds that media attention on corporate environmental protection and pollution control investment will be strengthened in the areas with a high level of market-oriented;Then, this paper examines the interaction of the media and pollution characteristics of the industry on corporate environmental inputs. The result shows that, in high pollution, high energy consumption industries, the impact of the media attention on investment in corporate environmental protection and pollution control is significantly enhanced;Finally, this paper examines the interaction of the media and public awareness of environmental protection on corporate environmental inputs. The study finds that areas with high public awareness of environmental protection, the media attention on the impact of corporate environmental protection and pollution control investment significantly enhanced.