Research On The Countr-cyclical Regulation Effect Of Media Stock Market Reports

Economic activity has the characteristics of periodic fluctuations,and the pro-cyclical forces in the economy will magnify the fluctuations.In order to promote the smooth operation of the economy as much as possible,the state's macro-controls often introduce some counter-cyclical policies to “cut the peaks and fill the gaps”.There are also periodic fluctuations in the stock market(mutual replacement of bull and bear markets).Similarly,the pro-cyclical factors in the stock market(such as buying up or not buying or falling)will also amplify the volatility of the stock market,so the smooth operation of the stock market also requires counter-cyclical regulation.In recent years,the term "counter-cyclical stock market regulation" has been increasingly mentioned.There are many methods for counter-cyclical control of the stock market,but most of them are from an economic perspective.This article puts forward for the first time,based on the perspective of the news dissemination function,that the stock market report of the media is also a unique way of counter-cyclical regulation of the stock market.The basic basis is that empirical studies at home and abroad have shown that stock market reports can directly affect the stock market volatility,and related good reports will cause the stock market to rise,and bad reports will cause the stock market to fall.Therefore,the media's stock market report is one of the strengths of the stock market.Since the report can influence the stock market,it can certainly be used to regulate the stock market.From the perspective of communication science,the counter-cyclical regulation of media stock market reports is consistent with the media's environmental monitoring and risk warning functions to some extent.How does the counter-cyclical regulation of the media stock market report play?This article analyzes the relevant stock market reports of the People's Daily before and after the “6·15” stock crisis in 2015.The study found that after removing the factors of policy interference,the "People's Daily" stock market reported that counter-cyclical regulation was lacking before May.Among them,the performance in March and April was even worse,and it was suspected that the stock market was pro-cyclical.In addition,this article attempts to explore the reasons from the aspects of counter-cyclical control consciousness and understanding of the importance of stock market reporting.Based on this,this article finally tried to put forward thepreliminary proposal to solve the stock market report problem.