以沪市上市公司为样本,基于利益相关者理论,在综合采用熵权法度量企业社会责任的指标权重与指数法测算企业社会责任的基础上,研究了媒体监督对企业社会责任的影响,并考察了政府干预与行业特征在影响媒体治理效应方面的作用。研究发现:1媒体监督对上市公司的社会责任有显著的正向影响,并且相较于一般性的报道,媒体的负面报道在其中起到的作用更为显著;2考虑到广告、声誉等经济动机,媒体监督对企业社会责任的影响在竞争性行业、环境高敏感性行业以及消费者高敏感性行业中表现得更加显著;3在地方政府干预程度较高的地区,媒体在督促企业履行社会责任方面的监督作用会弱于市场化程度高的地区。
Using a sample of listed companies from Shanghai Stock Exchange,this study mainly explores the impact of close attention given by the media on listed companies' behavior in social responsibility by using index method and entropy weight method to measure the performance of corporate social responsibility(CSR).Besides that,we also study how government intervention plays a role in the media governance effect,and the relationship between the industry characteristics and CSR.It is found that the supervision from the media can improve the level of CSR,and considering the economic motives such as advertising reputation,it's more significant in competitive industries,highly sensitive environment industries,as well as highly sensitive consumers industries.However,over control on the media from the local government will greatly weaken the effectiveness of the supervision of media.This study provides empirical evidence for the effect of media in corporate governance,and proposes new paths to promote CSR and the sustainable development of corporate.