Research On The Relationship Between Media Coverage?Internal Control Qualityand Corporate Value

In the emerging and transition economies,the improvement of the national legal system is not achieved overnight,there are informal system and legal system complement each others in the economic market,the media attention is such an important external supervision force.It acts on the impact of listed companies by influencing public opinion and the transparency of the business information of listed companies,thereby enhancing the awareness of stakeholders and the public and regulators on listed companies.To promote the management of listed companies attach importance to the company's performance,the role of media governance has been affirmed by domestic and foreign scholars.Due to the financial fraud,the internal control system has been paid more and more attention by the promulgation of laws and regulations.The internal control system of the enterprise is also an internal governance mechanism.Establishing an effective internal control system can reduce the risk of error in accounting procedures.As the principle of internal control checks and balances exist,it can restrict the behavior of executives in listed companies,to reduce agency costs and control corporate financial risks,to improve management efficiency,thus affecting the corporate value of listed companies.Media attention can also reduce the self-interest behavior of listed company managers,to improve the supervision of executives of listed companies,and enhance the protection of shareholders and creditors of the role.Media attention to improve corporate reputation at the same time to the outside world to pass the favorable signal,from this can be seen that the internal control system and media attention is from the inside and outside the two angles to play the role of corporate governance.Based on this,the article on the media attention,quality of internal control and corporate value of the study and discussion.Based on the study of the relationship between the two domestic by foreign scholars,through the analysis and analysis of the relationship between the three,the use of stata11.0 software processing,the data collected in this paper is mainly applied to fixed and random effects model selection and intermediary effect test,and The empirical results are analyzed and discussed.This paper analyzes the static panel regression analysis by selecting the financial data of listed companies in Shanghai and year from 2010 to 2015,and draws the following conclusions:(1)media attention can improve the enterprise value of listed companies;(2)media attention and internal control quality positive correlation;(3)the quality of internal control of listed companies is the intermediary between media attention and corporate value.This paper breaks through the governance role of media attention in the past,and uses the mediating effect model to analyze and discuss how the media attention affects the path of enterprise value,and further clarifies the relationship between media attention,internal control quality and enterprise value,The research of the company's enterprise value factor theory enriches the research perspective and the research path,which provides the foundation for the future research.