An Empirical Study On The Relationship Among Media Pressure,Accounting Information Quality And Enterprise Innovation

Combined with the current situation of low innovation level in China,the state constantly promotes the company's innovation activities,hoping that the company can form the core value with innovation ability.However,the innovation cycle of enterprises is long,the investment is large,and the short-term profit is not obvious.As a result,managers are not inclined to innovate for the sake of their reputation or the company's financial performance.At the same time,the agency cost leads to the enterprise innovation is difficult to achieve,internal and external information asymmetry of financing constraints also hinder the pace of listed companies' innovation.In recent years,the financial restatement of listed companies is increasing,which means the quality of accounting information is low.The quality of accounting information is the only way for external investors to obtain enterprise information.The low quality of accounting information makes it difficult for investors to trust,so it is difficult to obtain external financing for enterprise innovation.Based on the analysis of the factors hindering the innovation of enterprises in China,improving the quality of accounting information can reduce the information asymmetry,ease the agency conflict and so on,which has a certain impact on enterprise innovation.In order to increase such influence,media reports are introduced to try to influence the relationship between accounting information quality and enterprise innovation from three approaches of media reports(supervision,reputation and market pressure).This paper studies whether the external governance and supervision mechanism reported by Chinese media can play A role from the perspective of the a-share listed companies in Shenzhen that carry out financial restatement.That is,under the external supervision of media reports,the correlation between accounting information quality and enterprise innovation of listed companies with financial restatements is studied.The research shows that the quality of accounting information of listed companies with financial restatement is positively correlated with enterprise innovation when the media reports are not involved.The increase of media pressure(the amount of negative media reports)promotes the relationship between accounting information quality and enterprise innovation.Compared with media reports,the increase of negative media reports plays a more significant role in promoting the relationship between accounting information quality and enterprise innovation.