摘要
新闻媒体是金融市场信息的主要传播者。现有研究表明,新闻媒体信息传播的数量、语言风格、褒贬倾向等对投资者交易行为有显著影响,是重要定价因素之一。因此,媒体与金融市场紧密联系,不可分割。本文以2013年美国股市“黑客崩盘”这一媒体与金融的独特关联事件为契机,从定价因素、投资决策、公司财务、金融监管等视角梳理媒体对金融市场的影响机理,从理论和实务层面分析媒体经济角色,并结合我国现状对构建良性金融信息环境给出思考和建议。
Media news help disseminate information in financial market. Literatures show that media news coverage and tones impact investors' trading behavior significantly, indicating media as one of asset pricing factors. Therefore, media news is closely linked to financial market inseparably. Starting with the “Hack Flash”,this article studies how media influences asset pricing, investment decisions, corporate finance, and regulatory governance in financial market in terms of both theoretical and practical aspects and gives suggestion on how to build benign information environment in financial market.
出处
《投资研究》
CSSCI
北大核心
2019年第2期92-101,共10页
Review of Investment Studies
关键词
媒体
资产定价
公司财务
金融监管
Media
Asset Pricing
Corporate Finance
Regulatory Governance
