Management Power,Network Media Attention And Accounting Conservatism

Accounting conservatism,also known as the principle of prudence,is one of the most classical accounting principles.It plays an irreplaceable role in accounting recognition and measurement,and also enriches accounting theory and guides accounting practice.Accounting conservatism principle requires enterprises to maintain a prudent attitude in accounting treatment,do not underestimate the losses and expenses that may be generated,and do not overestimate those uncertain income.Its existence also contributes to the sustainable development of listed companies and the prosperity and stability of the capital market.It is because of the long history and important role of accounting conservatism that the vast academic circles pay special attention to its causes and its influencing factors.The in-depth study of relevant factors affecting accounting conservatism by scholars can provide new ideas for improving corporate governance mechanism.Management power,as one of the factors that cannot be ignored,has always been the focus of scholars' research.Due to the principal-agent problem,the two rights of enterprises are gradually separated.For the sake of their own interests,the management has a certain space to manipulate financial accounting information,thus affecting the conservatism level of accounting.Especially in Chinese capital market,due to the dual influence of the residual power of the traditional monarch and subject and the imperfect external restraint mechanism,the position of the management of listed companies is becoming more and more prominent,and the management power is excessively expanded to some extent.With the rapid development of the Internet,all kinds of network media have come into people's vision.As a new media,network media has the advantages of strong momentum,strong communication power and large influence range.Its supervisory role is gradually more than that of traditional television,radio and other media.It arouses public opinion by paying continuous attention to the problems and behaviors of listed companies.Such as the shock of the Chinese dairy market "poisonous milk powder" incident,as well as the influence of bad "booze" events,reflect the media trigger the reputation mechanism and even cause the intervention of relevant government departments,the reversed transmission company management to reduce the effect of self-interest opportunism behavior,to a certain extent,help the company governance,protect the interests of minority shareholders.This also makes scholars at home and abroad begin to realize the impact of network media as an emerging roleoutside the traditional supervision mechanism on the capital market,which arouses their research interest.Based on the above background,this paper first expounds the important research significance of this field from the perspective of theory and practice,and emphasizes the research value of this paper.Then the research idea is described in detail and shown in the form of research frame diagram.Then,through a systematic review of a large amount of domestic and foreign literature,the research results of scholars are fully reviewed,which are mainly divided into three parts: accounting conservatism,management power and media attention.In each part,the research on the relationship between them is also involved.Again and,further summarizes the related theoretical basis,mainly divided into economic man hypothesis,the asymmetric information theory and the three aspects of trust-agent theory,and from the perspective of motivation,ability and mechanism of explore and analyze the management power,network media attention and the function of accounting conservatism mechanism,so as to put forward two main assumptions:(1)The constraints of the same circumstances,the management power is negatively related with accounting conservatism,the management of power,the greater the lower level of accounting conservatism.(2)With the same restrictions,the negative relationship between management power and accounting conservatism decreases with the increasing attention of online media.In order to verify the hypothesis,this paper uses CSMAR database and WIND database to obtain the public financial data of Shanghai and Shenzhen A-share listed companies,uses network media attention data collected by CNRDS China Research Data Service platform,and uses STATA14.0 and SPSS24.0software for analysis and test.In the process of inspection,some unnecessary data are eliminated according to the convention,and appropriate methods are used to calculate the relevant indexes.According to the corresponding hypothesis,different models were applied to carry out a series of tests such as descriptive statistics,correlation analysis and multiple regression,which provided sufficient data support for the verification of the hypothesis.In addition,in order to ensure the robustness of the regression results,a series of robustness tests are carried out in this paper,including alternative explanatory variables and explained variables,etc.,which prove the correctness of the hypothesis in this paper in multiple directions.After the empirical part,this paper summarizes the main research conclusions.Through theoretical and empirical analysis,this paper draws the followingconclusions:(1)Management power has a negative correlation with accounting robustness,that is,the greater the management power,the lower the level of accounting robustness.(2)The negative relationship between management power and accounting conservatism weakens with the increasing attention of online media.Finally,on the basis of the above research,this article focuses on the perspective of the enterprise and the government,considers the research results,and proposes corresponding policy implications.In addition,the article also summarizes some of the insufficient considerations,and gives a full outlook for future research in this field.