Research On Information Disclosure Of Listed Companies Through New Media

In recent years,with the exchange and transmission of information through the new network media such as We Chat public account,life has changed a lot.These new ways of information dissemination are not only a new exploration of people’s life and communication,but also a change from inside to outside for the ways,channels and timeliness of providing,spreading and obtaining information in the capital market.This paper collects articles published by listed companies through official We Chat public account through Python crawler technology,and analyzes the content of them.Research shows that the information disclosed by a listed company through its We Chat public account covers a wide range of fields,including the company’s business strategy information,external inspection information and research and development information.Such articles cover a wide range of enterprise information,among which the information that has not been officially disclosed by the company accounts for about 78%.After the text processing and analysis,this paper further studies the quality of We Chat public account information disclosure from the perspective of internal governance and external environment.Firstly,the relationship between enterprise characteristics and article information quality is discussed.Finally,the results show that with the improvement of governance level,We Chat companies tend to set up We Chat public accounts.Second,this paper studies the impact of economic policy uncertainty on self-media information disclosure,the results show that with the improvement of the former,it will promote enterprises to open We Chat public account,and publish articles of higher information quality on this basis.At the same time,the conclusions of this paper can provide some empirical evidence for the CSRC and other regulatory authorities to formulate relevant rules and regulations.