Relationship Between Corporate Social Responsibility And Financial Performance From The Perspective Of Media Supervision

Under the drive of social and economic development and science and technology, China embarked on the fast forward pace. With the rapid development of economy of our country, enterprises also immediately embarked on a path of rapid rise. Behind the brilliant achievements, China also encountered many stumbling blocks, the corporate social responsibility questions is one of them. Frequent incidents of product quality, not only to consumers brought irreparable harm and pain, but also to the enterprise brought great loss and regret.The news media broke before the stereotypical and rigid mode of operation, using network elements to create a new media channels. This will not only expand the coverage of information, and speed of message transfer. However, with increasing the degree of openness of the media, negative news from the capital market has also been more and more people’s attention.Spread through the mainstream media platform(including TV, network news, microblogging, paper magazine or newspaper), 2006 “Sudan Red duck egg”incident, “poison milk powder” incident in 2008, 2011“Shuanghui lean lean essence event”, the 2012 “Yili Group mercury exceeded event”, 2013 spread of 16 countries in Europe,“horse meat scandal”, 2014 Shanghai Fuxi food expired meat and other events let people shudder. The ensuing negative reports reveal the social responsibility in the capital market of our country is facing a great challenge.Based on the above background, the purpose of this study gradually clear: enterprise for whatever motives frequently make against social responsibility behavior? The behavior whether with the enterprise performance motivation? Media continued to track whether the negative events in the process of follow-up impact, whether to a supervisory role to the behaviors of enterprises? If the defect exists in the capital market supervision system, media reports can make up for the? Corporate social responsibility performance may affect firm performance? In order to answer the above questions, this study is to further research on the relationship between media supervision, corporate social responsibility and financial performance.On the choice of research methods, this paper chose a case to study. By comparison of different cases, it is found that Yili occurred in September 2008 the contamination of milk products and June 2012 "mercury exceeded events consistent with the requirement of the study of this paper, for three reasons: first, Inner Mongolia Yili Industrial Group Co., Ltd. has been leading in the industry, is China’s dairy industry an important boss,once the enterprise in the society, the economy has negative behavior, the capital market will inevitably lead to a serious crisis of confidence, investors will show more intense reaction. Second, two incidents of not only the dairy industry is very big impact, but also brought great shock to the capital market. After the events and events, the media continue to follow-up reports, and continue to focus on the rectification of the enterprise, and provide a reliable basis for the following analysis of the updating data and text. In third, the listing Corporation in the Commission, the stock exchange and other regulatory department under the constraints of information disclosure norms, but also pay more attention to their own image.The innovation of this paper lies in: the previous study mostly concentrated on social responsibility and the corporate governance, financial performance, the relationship between the reaction of investors, and from the perspective of media reports explore the literature of social responsibility is not. This paper through the case of Yili explores the media supervision of enterprises lack of social responsibility behavior influence, show the news media in the discovery of illegal behaviors of listed companies for loopholes in the regulatory responsibilities, urging listed companies rectification, listed companies to enhance the awareness of social responsibility etc. play a positive role, in order to prove the necessity of media reports exist in the capital market.Problems in the performance of this paper: academic media reports about the nature of the judgment standard is not unified. In the present study, the report properties(positive reports, negative reports and neutral reporting) is by the subjective judgment of scholars, vary from person to person, the lack of objective; In this paper can be used for reference at home and abroad literature quantity is limited; Limited to the author’s theoretical knowledge and writing ability, based on the analysis of existing deficiencies.