The Process Of Marketization,media Attention Degree And Budgetary Shirking

Forewarned is forearmed,without prejudging the waste.As an important part of management accounting,the budget is an important part of the internal control system of an enterprise.However,with the changes in the economic environment,there have been many problems in the practical application of the budget.The separation of ownership and management rights in modern enterprise makes the utility function of the principal and the agent inconsistent,resulting in an agency problem.Due to the self-interest motivation and information asymmetry,the agent may implement budget opportunistic behavior during the execution of the budget.Being lazy and not doing enough are so called budgetary shirking.Budgetary shirking seriously weakens the planning,control and evaluation functions of the budget.It inevitably wastes corporate resources,reduces the operating efficiency of companies,and damages the long-term interests of shareholders.Therefore,how to effectively suppress budgetary shirking has become a topic of concern for scholars.In recent decades,the media plays a role of external corporate governance through the attention and reporting of listed companies and the capital market.In the past,research on budgetary shirking was mainly confined to internal governance mechanisms.This article uses the external governance mechanism as a research perspective to analyze whether media attention can suppress budgetary shirking,and whether the influence of media attention on budgetary shirking is affected under different marketization processes.This article takes the listed company of China’s Shanghai-Shenzhen A shares disclosure budget from 2014 to 2016 as a research sample,it establishes a multiple linear regression model and examines the influence relationship between marketization process,media attention and budgetary shirking.The empirical results show that: Firstly,the higher the degree of media attention and the lower the level of budget shirking.Secondly,in provinces with low level of marketization,the degree of media attention has a more inhibitory effect on budgetary shirking.There is an alternative relationship between marketization and media attention.According to the research conclusions,the suggestions are: First,government departments should strengthen media legislation and gradually reduce administrative intervention in the media industry;Second,the media industry needs to enhance their credibility,strengthen the professional ethics of the media and keep pace with the times;Finally,firms should continuously improve the budget management system,strengthen the construction of the budget information disclosure system and draw up feasible budget execution plans to ensure budget targets can be successfully completed.