The reverse corporate governance effect of online media management

Junyan Li, Gaoliang Tian, Mohan Fonseka and Yi Si

Asia-Pacific Journal of Accounting & Economics, 2021, vol. 28, issue 3, 285-310

Abstract: Market participants face a relatively serious information dilemma due to ‘limited attention’ and ‘reporting bias.’ This directly affects the choice and behavior of economic parties and ultimately leads to loss of interests. To tackle such problems, this study makes use of a questionnaire to investigate the current situation of online media management, in listed companies, such as Shen Zhen Securities Exchange and other companies operating in China. The focus is to discuss the economic consequences of reverse corporate governance behavior of listed companies, which actively undertake online media management. The findings of this paper are as follows: (1) Effective online media management can increase the transparency of information and improve the welfare of stakeholder groups. (2) The economic consequences is more obvious in the sample of listed companies with an environment facilitating better information and high visibility. (3) The government penalization is unable to replace the effect of online media management, which provides additional evidence for the empirical results of this paper to be robust.

Date: 2021
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DOI: 10.1080/16081625.2019.1618719

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Asia-Pacific Journal of Accounting & Economics is currently edited by Yin-Wong Cheung, Hong Hwang, Jeong-Bon Kim, Shu-Hsing Li and Suresh Radhakrishnan

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