Media Research, Internal Control And Earnings Management Level

Media is the medium for us to obtain information,and it becomes more and more important in modern life.The degree of freedom of media report is obviously related to the development of capital market.Open media will form a good supervision environment.Although the development of China's capital market has not lasted for a long time,the protection role of media supervision has become more and more obvious in recent years.Recently,the real face of vaccine fraud has been raised by the "king of vaccines" from the media "animal building".In 2013,the media questioned the financial fraud of nearly 30 listed companies,not only the traditiona l media,but also the faster and wider network media are playing a huge role.Therefore,the role of media in corporate governance has become a hot topic for scholars.The media can visit the company,question the executives and inspect the production line through the way of investigation,which can form the supervision of listed companies.As an important means of obtaining information and reducing information asymmetry,field research has been listed in the guidelines for investor relations management of listed companies of Shenzhen Stock Exchange since 2003.In 2012,the Shenzhen Stock Exchange launched the "investor relations" column on its website,requiring listed companies to make public the activities of specific objects such as receiving investor research.After that,investors and other specific objects,such as the media,can get more information.These information can show the situation of listed companies from the front or side.Therefore,it is of great theoretical and practical significance to study the role of media in the governance of listed companies.Due to the fact that the media in the field research group is relatively small and the analysts account for a large proportion,the previous literature has more selected analysts' research and forecasts to study the earnings or stock price-related issues of listed companies.This article reviews and analyzes domestic and foreign literature.On the basis of the research,the media field survey from April 2012 to December 2016 is used as the research object,using empirical analysis to propose hypotheses,establish models,and examine the quality of internal control information disclosure and earnings management of relevant listed companies.The relationship between the degree and the field investigation of the media,to study whether the media field inspection has a governance effect on the listed company.Starting from media research,the first step is to first study the objective impact of media research on the degree of earnings management of listed companies;the second step is to comprehensively sort out and thoroughly study the quality of internal control information disclosure and the degree of earnings management of listed companies from a macro perspective.The third step is to verify whether the quality of internal control information disclosure quality has a regulating effect on the relationship between media research and the degree of earnings management of listed companies based on the principle of seeking truth from facts.The conclusions of this study are as follows:(1)Media surveys of listed companies will reduce the company 's earnings management level,that is,the more media surveys,the lower the earnings management level of listed companies;(2)the higher the quality of internal control information disclosure,the listing The lower the company's degree of earnings management;(3)The quality of internal control information disclosure negatively regulates the relationship between media field research and the degree of corporate earnings management.That is,compared with companies with higher quality of internal control information disclosure,media field investigations have a more significant role in monitoring companies with poorer quality of internal control information disclosure.Based on the above results,this paper enriches the relevant literature on media research,earnings management,internal control information disclosure quality,and puts forward relevant suggestions from improving media supervision,guiding the media to report correctly,and improving the quality management of internal control information disclosure,which has more suggestions on the steady development of China's media,investor protection,and how to enrich the corporate governance path reference opinions and values.