期刊名称：International Journal of Management and Business Studies
印刷版ISSN：2231-2463
电子版ISSN：2230-9519
出版年度：2014
卷号：4
期号：4
出版社：Cosmic Journals
摘要：The relatio nshi p between media sup ervision and in vestment efficiency was investigated by using multiple linear regression model in this study. By using cross section data from firms in China, the results demonstrated that media supervision was able to improve investment efficiency. First, the sensitivity of investment expenditure to investment oppo rtu nities was identified to b e significantly higher for firms having negative media coverage. In add ition, inefficient investment d ue t o high net flow was revealed to be weaker for firms having negative media coverage compared to those not having media coverage. Finally, further research suggested that media supervision shows a characteristic of asymmetry. In conclusion, this study demonstrated that the media plays a more important supervisory role in the non-state- owned listed companies, especially in th e unsatisfactory law environment.
关键词：Media Su pervision ; In vestmen t Efficiency; Multiple Linear ; Regression; Legal Environment
