Research On Corporate Social Responsibility And Executive Media Attention And Impact On Business

In recent years,corporate social responsibility has attracted more and more attention.The government has also issued a series of documents to clarify and standardize the implementation of corporate social responsibility and information disclosure,so as to guide companies to actively fulfill their social responsibilities.Scholars' researches on corporate social responsibility also become deeper and deeper.On the basis of sorting out existing literature,it is found that scholars have studied corporate social responsibility and media governance from the perspective of the company,while researches from the perspective of corporate management is relatively rare.Therefore,based on the relationship between corporate social responsibility and the media attention of senior executives,this article further explores the impact of this relationship on management power,executive compensation,and corporate financial performance.This paper uses the score data of Corporate Social Responsibility(CSR)by Hexun Rankins CSR Ratings.The data of the senior management media attention comes from China's important newspaper full-text database,reading the search results manually to determine whether it is positive reports.Through the theoretical analysis and empirical test,this article draws the following conclusions:(1)the more attention to corporate social responsibility,the higher the media attention of its executives.(2)the more corporate social responsibility and the higher the degree of media attention of senior executives,the greater their managerial power.(3)the more corporate social responsibility and the higher the degree of media attention of senior executives,the higher the executives' monetary compensation,as well as the higher the in-service consumption.(4)the more corporate social responsibility and the higher the media attention of senior executives,the worse the financial performance of the company.In addition,the innovation of this article is mainly focused on media coverage of company executives,expanding the research perspective of the role of media's corporate governance;focusing on front-page media coverage of senior executives and enriching research in this field.