Research on the Impact of External Supervision on the Credit Risk of Listed Private Enterprises
Media attention,as a form of external supervision,has an increasingly significant impact on the operation and develop-ment of enterprises.Therefore,this article selects media attention and financial data from listed private enterprises to study the im-pact of media attention on the credit risk of listed private enterprises and its path of action.Research has shown that:(1)media at-tention can help reduce the credit risk of listed private enterprises;(2)Financing constraints are an important channel for the me-dia to pay attention to the credit risk of listed private enterprises.that is,financing constraints can reduce the credit risk of listed private enterprises by improving information transparency in the market and restraining opportunistic behavior of executives.
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万方数据
