A Study On The Relationship Between Media Coverage,internal Controland Effectiveness And Corporate Performance

How to improve the performance of enterprises has always been the focus of the owners and managers.With the deepening of the economic system reform in our country and the continuous development of enterprise business activities,internal and external environment faced by firms to become more complex and difficult to predict,internal control failure is still frequent,this reflects our country in the aspect of corporate internal governance still has many deficiencies,seriously affected the enterprise performance.With the in-depth development of informatization,media,as the medium of information transmission,plays an increasingly important role in our social life,forming a force that cannot be ignored and becoming an important means of corporate governance.Therefore,how to play the governance role of media and further improve enterprise performance in the case of internal control failure is the key issue of this paper.In this paper,from the Angle of the combination of external governance and internal governance thinking,and further study of the effectiveness of media attention,the internal control and the relationship between corporate performance and for strengthening the supervision of the media,to further improve China's Shanghai and shenzhen two city a-share listed company internal control effectiveness,finally realizes the enterprise performance improvement is of great significance.Based on the reputation theory,principal-agent theory and information asymmetry theory to research the theory support,adopt the method of combining normative research and empirical analysis,to the a-share listed companies in our country the data of 2013-2017 as the research basis,draw lessons from Baron and Kenny(1986)intermediary effect testing method,deeply analyze the Shanghai and shenzhen a-share listed companies in the two cities in China the relationship between media and business performance indicators;Whether the media attention has influence on the numerical index of the effectiveness of internal control;Whether there is a strong correlation between the effectiveness of internal control and enterprise performance;Whether the effectiveness of internal control is mediated by media attention on the relationship between enterprise performance.The results show that there is A positive correlation between media attention and corporate performance of a-share listed companies in Shanghai and shenzhen.The effectiveness of internal control is positively correlated with enterprise performance.Media attention is proportional to the effectiveness of internal control;The effectiveness of internal control plays an intermediary role in the correlation between media attention and enterprise performance.Based on the above empirical conclusions,the following Suggestions are put forward: enterprises should better implement internal control,improve the effectiveness of internal control,and further promote the improvement of enterprise performance.The government can correctly guide the development direction of the media and strengthen the supervision role.Media need to give full play to the role of the "fourth hand" of the market.