CHEN Hong,etc:Research on Mechanisms of Corporate Governance of the Mass Media in the Age of “Big Data”—— Based on Empirical Result of Transparency

Abstract：Taking the listed companies from 2008 to 2012 as the main object of the study, this paper studies the effectiveness and the mechanisms of corporate governance of the mass media in the age of “big data.” The results showed that media exposure can significantly improve the transparency of listed companies, and the improvement of the transparency can further reduce the agency costs and ease the conflict of interests between shareholders and management as well as outsider investors. By enhancing information transparency, media plays an active corporate governance function. Correspondingly, the regulatory authorities should make use of the opportunity of media development in the age of “big data” and give full play to the functions of the media's corporate governance.

Key words： Media Exposure   Transparency   Corporate Governance   Big Data

source:Finance & Trade Economics ,No.7,2014