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Media Coverage, Effectiveness of Internal Control and Innovation Performance

XU Yu1,2 , FENG Junke3, YANG Fei3   

  1. 1.School of Business, Xi'an International Studies University, Xi'an 710128, China;
    2. Institution of International Accounting & Finance Research, Xi'an International Studies University, Xi'an 710128,China;
    3.School of Economics & Management, Northwest University, Xi'an 710127, China
  • Received:2017-04-01 Online:2017-12-10 Published:2017-12-10

媒体关注、内部控制有效性与企业创新绩效

许瑜1,2,冯均科3,杨菲3   

  1. 1.西安外国语大学商学院,陕西 西安 710128;
    2.西安外国语大学国际会计与财务研究所, 陕西 西安 710128;
    3.西北大学经济管理学院,陕西 西安 710127

Abstract:

Using the A-share companies from 2012~2015 as samples, this paper investigates the relationship between media coverage, effectiveness of internal control and innovation performance. The study reveals that policy-oriented media, market-oriented media and network media can significantly improve the innovation performance. The effectiveness of internal control plays a partial mediating effect. The result shows that combination of internal and external governance factors is very important to improve innovation performance. Further test finds that the conclusions do not apply to the central and western regions’ listed companies. It can be inferred that the level of regional economic development plays an important role in the corporate governance effects of media coverage and internal control.

Key words: Media Coverage, Effectiveness of Internal Control, Innovation Performance

摘要:

以2012~2015年中国A股上市公司为样本,深入探讨媒体关注、内部控制有效性与创新绩效三者的关系。研究发现,政策导向媒体、市场导向媒体以及网络媒体均能显著提升企业创新绩效,内部控制有效性在其中起到部分中介作用,表明内外部治理因素的结合对于提升企业创新绩效十分关键。进一步分组检验发现,对于中部和西部地区上市公司,上述结论并不完全成立。由此推断,地区经济发展水平对于媒体监督和内部控制的公司治理效应发挥具有重要影响。

关键词: 媒体关注, 内部控制有效性, 创新绩效

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