Research On The Motivation And Influence Of Media Attention From The Perspective Of Corporate Governance

With the rapid development of Internet technology,especially big data and cloud computing,the media industry is developing rapidly.This makes the media pay more attention to companies.Not only in advertising filed,the media starts to make concerns of the product quality,capital market behavior,rewards and punishment,and moral behavior of executives,and so on,for example,the Tang Jun academic fraud incident in 2010,the clenbuterol pork event in 2011,and the IPO of Alibaba Group in 2014.What is the motivation of media attention about the company?How does the media attention affect companies?What impact the media attention has on it?This paper mainly explores the above questions.In this paper,the research results of the influence of media attention on corporate governance are studied by the literature research method.From the perspective of corporate governance,this paper analyzes the motives,ways and effects of media attention,and systematically summarizes the theory of the relationship between media and companies,according to the theory of economics,corporate governance and media.Then,using information of public listed companies about media attention and corporate governance,this paper analyzes the status quo in China.Finally,using Sound Group to perform case study,from the perspective of corporate governance,this paper carries out a detailed research about media attention' s influence on Sound Group.Dividing the media attention by the short selling incident,work on the different roles media play before and after in different periods in Sound Group's two listed companies.Analyze the motives why media pays attention to Sound Group.From the case,we get the inspiration about company's attitude towards the media and strategies to respond to different media attention.The study found that,because of the needs of the media's operation and needs of information users,the media has the motive to discover the unexposed fraud of the company.Through the prevention mechanism,the legal and administrative intervention and the reputation mechanism,the illegal behavior of the company is corrected,and the information asymmetry is relieved.It will lead to the replacement of executives,strengthen information disclosure and improve internal control.The influence of media attention will be different due to the difference between positive and negative feelings,and negative reporting will be more significant.Besides,the company should pay more attention to the media attention,consciously accept the supervision of the media,and improve its coping ability,so as to reduce the negative impact of media attention.Finally,this paper puts forward some suggestions and ideas for further research.