| Following the promulgation of Sarbanes-Oxley Act, internal control and internal control information disclosure of company began attracting wide attention and research of accounting. In 2008, the ministry of finance and other five ministries of our country jointly issued "internal control basic norms of enterprise " (hereinafter referred to as "specifications"), the half mandatory disclosure of internal control information became mandatory, which led to more attention to internal control information disclosure of listed company. The development of the Internet media make it easier for investors to get the relevant information of listed companies, investors can quickly respond to the relevant information. Media play an important role in the spread of internal control information.In this dissertation, a research has been made on the internal control information disclosure of company’s influence on stock price from the prospective of the difference of media attention through the comparison in the form of case, selecting two Shanghai a-share listed companies of manufacturing industry which have reported the same type of internal control information and have obvious difference on media attention. This paper try to study whether and how the media attention affect the process of internal control information disclosure of company’s impact on stock price.The study found that internal control information disclosure will affect the company’s stock price, and information about internal control defects can cause negative impact on stock price. However, company’s profit performance information will cause change on the influence, and the change of the company which has high media attention is more obvious. Besides, information of company’s rectification report can cause positive impact on stock price and investors’ reaction, the impact of company which has high media attention is more distinct, compare to the company which has low media attention. |
PDF Full Text Request