Abstract:

The media supervision is susceptible to its coverage bias and exposure intensity. We take the two effects into consideration and use the Propensity Score Matching method to retest the effectiveness of media supervision, and find that only the successively coverage can inhibit the excessive growth of the executive compensation, no results support the effects of the overall coverage and concentrative coverage, as we consider the difference in ultimate controller, the overall coverage and concentrative coverage show no effection in the central ，local state-owned or private enterprises, and the successively coverage take its effect in the state-owned enterprises, especially in the central enterprises. This indicates the media supervision has its own limits, and depends the successively coverage in the function mechanism and the influence of government intervention. This research helps us better understand the media function mechanism and influence scope.