摘要
本文以我国上市公司为研究样本,基于2015年我国股市非正常波动的特定事件,研究了网络股吧论坛的网络舆论压力对公司治理的影响。实证结果表明,网路舆论压力对我国上市公司的公司治理产生了显著的正向影响,中小投资者通过股吧网络平台发表的自身权益诉求得到了上市公司的积极回应。实证回归结果表明,中小投资者的权益保护诉求通过网络舆论压力的传导在国有控股的上市公司得到了积极显著的回应,而在非国有控股的上市公司网络舆论起到的公司治理作用并不显著;网络舆论对我国东中西部的上市公司产生的公司治理作用不存在显著差异。
Taking China's listed companies as the sample, based on the special event of abnormal volatility on China's stock market in 2015, the paper analyzes the effect of the pressure of internet public opinion from the internet message board on corporate governance. The empirical results show that the pressure of internet public opinion has a positive impact on corporate governance. Listed companies respond positively to the appeal for self-interest from minority investors. Furthermore, the findings indicates that the pressure of internet public opinion plays a strong positive role in corporate governance in state-owned enterprises. However, there does not exist the corporate governance role of internet public opinion in non-state-owned enterprises, and there is no Significant difference among the listed companies of eastern regions and of the central and western regions in the corporate governance role of internet public opinion.
作者
尹飘扬
熊守春
YIN Piao-yang XIONG Shou-chun(School of Business, Huaiyin Institute of Technology, Huai'an 223001, China School of Accounting, Southwestern University of Finance and Economics, Chengdu 611130, China)
出处
《经济体制改革》
CSSCI
北大核心
2017年第2期131-137,共7页
Reform of Economic System
基金
江苏高校哲学社会科学研究基金项目"‘新媒体’的公司治理促进作用机制研究"(2015SJB710)的阶段性研究成果
关键词
网络舆论
新媒体
投资者保护
公司治理
internet public opinion
new media
investor protection
corporate governance