个人信息Personal Information
教授
博士生导师
硕士生导师
性别:女
毕业院校:哈尔滨工业大学
学位:硕士
所在单位:信息与决策技术研究所
学科:信息管理与电子政务. 技术经济及管理
办公地点:管理与经济学部楼D435
联系方式:0411-84707677
电子邮箱:zhongqy@dlut.edu.cn
Media Monitoring, Media Types and Financing Constraints -An Empirical Test based on Heckman Two-stage Model
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论文类型:会议论文
发表时间:2016-01-01
收录刊物:CPCI-SSH
页面范围:164-172
关键字:financing constraints; media monitoring; media type; heckman two-stage model
摘要:Due to its increasing importance in the modern information society, media monitoring has attracted a wide attention from the academic circles and practitioners. Taking media monitoring as an entry point, we use data of companies listed on Shanghai and Shenzhen stock exchanges in the period 2010-2014 and apply Heckman two-stage model to investigate the impact mechanism of media monitoring on the financing constraints of listed companies. We explore the disparities in the impact of different types of media monitoring on financing constraints. Results show that media monitoring has a significant impact on financing constraints of listed companies, in which, positive media coverage reduces company's financing constraints while negative media coverage aggravates the company's financing constraints. Moreover, there is a clear disparity in the impact of different types of media monitoring on the financing constraints of listed companies. Results also show that compared to media monitoring from newspapers, online media monitoring is more influential to the financing constraints.