Media attention and corporate new quality productive forces

Juan Chen, Fuli Chen and Yufan Dai

International Review of Financial Analysis, 2025, vol. 105, issue C

Abstract: This paper analyzes the impact of media attention on the New Quality Productive Forces (NQPF) of Chinese A-share listed companies and addresses a gap in the academic literature. Using benchmark regression, instrumental variable methods, and robustness tests, the results indicate that media attention significantly enhances corporate NQPF and promotes its development by improving the information environment, alleviating financing constraints, and attracting high-quality talent. Heterogeneity analysis further reveals that media attention significantly affects firms with low market-development levels, no political connections, state ownership, low agency costs, and high internal control quality. This study highlights the important role of the media as a tool for information dissemination and social supervision in promoting corporate innovation and high-quality development.

Keywords: Media attention; New quality productive force; Information environment; Financing constraint (search for similar items in EconPapers)
JEL-codes: D83 G32 O30 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:105:y:2025:i:c:s1057521925004417

DOI: 10.1016/j.irfa.2025.104354

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