An Empirical Study On The Relationship Between Management Innovation And Corporate Performance In Media Listed Companies

The media industry is in a critical period of comprehensive transformation,which needs to play the key role of management innovation in the process of Media Convergence.On the basis of literature research,this paper makes a theoretical analysis on the interaction between management innovation and corporate performance.According to the interaction mechanism between the two and the predecessors of the relevant research,the relationship between management innovation and media business performance has been boldly assumed.Confined to the development of media listed companies,this paper selected 25 consecutive listed companies during the five fiscal years from 2011 to 2015 as research samples,established the evaluation system of management innovation and the performance of media listed companies,and introduced the enterprise scale as a control variable to eliminate the impact of non-research variables on corporate performance.Based on the factor analysis,this paper analyzes the relationship between the management innovation and the performance of the listed company.There is a significant positive correlation between management innovation and the performance of media listed companies,that is,with the improvement of management innovation ability,the performance of media listed companies show an upward trend in the overall.The positive impact of management innovation on the performance of media listed companies does not have annual lag,which only has a positive impact on current performance.There is a first rise and fall after the inverted U-type relationship between management innovation and corporate performance in media listed companies.That is,to a certain extent,with the improvement of management innovation ability,the performance of media listed companies shows an upward trend,but when the management innovation more than a certain "degree",companies will usher in the inflection point of business,media performance of listed companies will be due to excessive implementation of management innovation,showing a downward trend.Finally,combined with the relevant theory and the development of the media industry status,given the following three policy recommendations:First,we should attach the importance of management innovation,and play a role in promoting the performance of media companies.Second,keep up with the pace of development,put manage innovation into the media company's daily production and operation,establish a normal mechanism for continuous management innovation within the enterprise.Third,establish a correct understanding of the inverted U-shaped relationship between management innovation and corporate performance,first rise and fall after.And then put forward that media listed companies should under the guidance of appropriate principles to implement management innovation.