The Long-term Damaging Effect Of Media Misreporting On Business Value

With the advancement of the tide of information technology and the popularization and application of the Internet,the speed of media communication is getting faster and faster,and the power of media is getting bigger and bigger.As an important external governance mechanism,media is playing an increasingly important role in social economy and corporate governance.The influence,however,is twofold.On the one hand,on the basis of true reports,the media can give full play to the supervision role of public opinion,promote the company to improve its governance structure and coordinate the interests of all parties.On the other hand,the media,driven by their own interests,may also give false reports about the company.While there have been studies on the impact of negative media coverage on stock price volatility,there has been a lack of necessary and due attention to the long-term impact of misreporting on a company.Therefore,in order to purify the media supervision environment,strengthen social credibility,reduce business transaction costs,information asymmetry and investors and more accurate assessment of the "hell",intensify efforts to study the influence of the false reports to the enterprise,especially the research on the influences of the economic value of the enterprise,which has better reference value.Therefore,this paper mainly does the following research:First of all,from the media inaccurate reports to the enterprise long-term value destruction mechanism research,explore and establish the media reported false damage effect on the enterprise value measurement index system,and based on system dynamic model spread false information,introduces the enterprise response speed and the validity of the emergency measures,established is suitable for the enterprise after media reported false incident information propagation model;,zoomlion selected typical cases are falsely reported in the press,in-depth study,using event study,to explore the media reported false occurred before and after the return on the company's stocks,the global market,the global industry,the change of relative to competitors,thus analysis of false media reports to the enterprise short-term value;Long term USES factor analysis to analyze the media inaccurate reports can cause company profit factor and service factor,growth factors,the change of the operating factor four main factor comprehensive index,the comprehensive weights,after get the company's overall score,thus a more comprehensive understanding of false media reports to the enterprise value of the long-term damage effect.Finally,this paper applies the media false report propagation model to the development process of Zoomlion's "New Express" incident,so as to verify that the media false report will cause long-term damage to the company's value.Research value of this paper is to build media reported false index system for the measurement of the enterprise value is damaged,established is suitable for the enterprise model of information transmission media reported false events,further proof that the media to exist in the process of inaccurate reports spread effect of enterprise long-term value,side damage effect value measurement index system was verified the feasibility and applicability.Extract typical cases from events that are misreported by the media,and study the impact of media misreports on the value of the company,in order to find the general from the special;Suggestions and countermeasures for enterprises to deal with untrue media reports are put forward so as to better deal with the occurrence of such incidents.