外部监督对上市民营企业信用风险的影响研究——基于媒体关注视角
Research on the Impact of External Supervision on the Credit Risk of Listed Private Enterprises
庄云蓓 1刘琳琳1
作者信息
摘要
媒体关注作为外部监督的一种方式,对企业经营与发展的影响日益显著.因此,本文选取上市民营企业媒体关注和财务数据,研究媒体关注对上市民营企业信用风险的影响及其作用路径.研究表明:(1)媒体关注有助于降低上市民营企业信用风险;(2)融资约束是媒体关注对上市民营企业信用风险发挥影响作用的重要渠道,即融资约束可以通过改善市场中信息透明度、约束高管机会主义行为进而降低上市民营企业信用风险.
Abstract
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.
关键词
外部监督/媒体关注/信用风险Key words
External supervision/Media attention/Credit risks引用本文复制引用
基金项目
山东省社会科学基金青年项目(22DTQJ01)
出版年
2024
NETL
NSTL
万方数据