Framework Analysis Media Report On Vanke Stake Battle

From the beginning of the second half of 2015,the stock rights battle over Vanke(China's high-quality listed company)has become a major financial event in the capital market,with complicated and confusing situation in a period.After the event lasted for more than a year and a half,it is clear as the top leader of China's relevant department have publicly issued a rebuke to “the barbarian”.In this case,the way of releasing leverage and capital acquisition by the purchasers led by Baoneng Group has caused many disputes.It also posed a new challenge for China to prevent systemic financial risks.In connection with following series of financial policy such as vigorously eliminating leverage,clearing credit,and cracking down on oligarchs in financial field,Vanke Stake Battle can be regarded as a landmark event in the shift of China's financial policy and top-level regulatory thoughts.Moreover,Vanke Stake Battle made the highest director of the industry come forward to shout,an unprecedented move,and “the barbarian” was finally punished by the CSRC.It is also worth thinking about how to govern "the barbarian".In the history of communication research,it has become a consensus of the academic community that mass media have to take on social functions like monitoring the environment,explaining,educating and providing entertainment.The consensus also provides a reflection on the management of "barbarian".Based on the theory of framework,this paper studies 607 articles from representative financial media(including China Securities Journal,Shanghai Securities Journal,Securities Times,Economic Daily News and eastmoney.com,from July 10,2015-February 25,2017).And then,four major frameworks for the event are summed up in China's financial media on the basis of identifying 15 reporting angles: the fact statement framework,the event recognition framework,the policy situation framework and the news personal framework.This paper also divides the case into eight phases in accordance with the development of the event,analyzes the text content of different stages in each frame by using the "discourse package" of Gamson,and further discusses the functional role of financial media in the governance of "the barbarian".The research reveals that financial media reported and commented on the event from multiple perspectives,so as to present a wealth of event details to the audience and provide the audience with a variety of perspectives for recognizing and thinking about the event.It fully demonstrates the financial media has an important role in conveying objective facts and interpreting facts in the “barbarian” issues of the capital market.On the other hand,articles from the financial media,which analyze the national financial policy,the economic situation and the regulatory ideas based on Vanke Stake Battle,have showed insufficient pre-judgment and post-supplementary tactics of the media which failed to timely monitor the major shifts in the national policy situation.As a result,the media has failed to play the early warning function fully,so as to fuel “the barbarian” and force the state administrative power to compete with the market.Therefore,the study contends that China's financial media should strengthen their active awareness in communicating national strategic requirements and regulatory intentions,also should strengthen the construction of professional financial review team,raise the voice of the experts who have professional financial knowledge and can accurately judge the policy direction,and effectively strengthen the policy analysis agenda to exert environmental monitoring and early warning functions.