Research On The Effect Of Media Attention On The Effectiveness Of Internal Control And Corporate Debt Financing Costs

In modern society,the importance of informatization is self-evident.From the perspective of information dissemination,the media is a particularly important way to allow information to be fully and quickly disseminated.It has a very strong independence and can highly value and reduce the actions of listed companies themselves.The probability of information asymmetry makes it possible for investors to obtain greater returns in investment.In short,if the governance mechanism of the media can be used scientifically and reasonably,then in a sense,the shortcomings in the domestic corporate governance mechanism at this stage can be effectively resolved,making the capital market Compared with the early days,the security has been significantly improved.In recent years,financial frauds have appeared one after another in front of the public.More and more people are skeptical or even distrustful of the quality of accounting information.Therefore,for the government,it is necessary to start from the legislative level,so that the quality of accounting information has been greatly improved,so that investors have a more thorough understanding of the basic data of decision-making.In other words,it is necessary to establish a highly targeted and effective internal control management mechanism to scientifically and reasonably supervise the preparation of accounting information,to fundamentally ensure a high level of information quality and a high degree of stability.At the beginning of this century,the document "Basic Standards for Internal Control of Enterprises" was officially announced and implemented in the country,which means that the information disclosure of listed companies is no longer voluntary,but has gradually become mandatory.Sexual.After the publication of this document,more and more experts and scholars have attached great importance to the effectiveness of internal control of domestic listed companies and other related issues.From the perspective of debt financing,it is well received and recognized by domestic companies because of its many benefits such as tax deduction effects.The amount of debt financing costs will not only have an important impact on relevant stakeholders,but will also have a very profound impact on economic development.Although researchers in China and overseas experts and scholars have conducted a comprehensive and thorough study on the cost of debt financing,few people have explored the deeper aspects of debt costs from the perspective of internal governance mechanisms and external governance mechanisms.Level problem.Based on the internal and external governance mechanism,the author will analyze and study case companies by adopting case analysis methods to obtain information on the quality of internal control,media supervision,and how the debt financing cost can be greatly improved under the organic combination of the two.Reduced.After some indepth research and exploration,the author was able to obtain these several research conclusions:(1)The quality of internal control and the cost of debt financing present a negative correlation.In other words,the higher the level of the former,the lower the cost of the latter.(2)From the perspective of media supervision,it has a decisive influence on the cost of debt financing.But to further classify it,the more the company's negative news media reports,the more uncertain investors are about the company's risks,and the required rate of return increases,thereby increasing the company's debt financing costs.