摘要
本文以2015—2020年A股上市企业为研究样本,实证检验媒体关注与企业ESG信息披露质量的关系。研究发现,现阶段媒体关注能够显著促进企业ESG信息披露质量提升。中介机制检验表明,媒体关注通过优化企业内部控制与强化企业外部监督从而实现对企业ESG信息披露质量的提升效果。异质性检验结果发现,媒体关注对企业ESG信息披露质量的促进效果在国有企业以及规模较大和环境敏感度较高的企业中更加显著。最后,基于媒体报道的情绪特征,发现媒体情绪越乐观,越能够促进企业ESG信息披露质量提升。本文的研究为深入理解媒体关注对企业ESG信息披露行为的影响,更好推进我国上市企业ESG信息披露制度建设提供了理论依据和实践指导。
Using A-share listed companies from 2015 to 2020 as research samples,this paper empirically tests the relationship between media attention and the quality of ESG information disclosure.This paper found that media attention can significantly improve the quality of ESG information disclosure.The intermediary mechanism test shows that the media attention can improve the quality of ESG information disclosure by optimizing the internal control and strengthening the external supervision of enterprises.Heterogeneity test results show that the promotion effect of media attention on the quality of ESG information disclosure is more significant in state-owned enterprises and enterprises with large scale and high environmental sensitivity.Finally,based on the emotional characteristics of media reports,the paper finds that the more optimistic the media sentiment is,the better the ESG information disclosure quality can be promoted.This paper provides a theoretical basis for in-depth understanding of the impact of media attention on ESG information disclosure behavior of enterprises,and also contributes practical guidance to better promote the construction of ESG information disclosure system for listed enterprises in China.
出处
《会计研究》
CSSCI
北大核心
2022年第8期59-71,共13页
Accounting Research
基金
国家社会科学基金重点项目(18AJY002)
国家自然科学基金项目(72002026、71902009)
安徽财经大学2021年研究生科研创新基金项目(ACYC2021459)的资助
关键词
媒体关注
企业ESG信息披露质量
媒体情绪
Media Attention
Enterprises’ESG Information Disclosure Quality
Media Mood
