摘要
本文以中国A股上市公司为样本,实证分析媒体报道对企业劳动投资效率的影响及作用机制。研究结果表明,媒体报道能显著提升企业劳动投资效率,媒体报道主要通过监督机制和声誉机制来促进企业劳动投资效率的提升。进一步研究发现,从不同媒体报道作用来看,相较于市场导向型媒体,政策导向型媒体对企业劳动投资效率的提升作用更为显著;从媒体情绪的影响来看,相比于负面和中性媒体报道,正面媒体报道可为企业树立良好的声誉形象,更有利于提高企业劳动投资效率。本文揭示了媒体报道与劳动投资效率之间的内在逻辑,有助于优化企业人力资本配置,促进媒体更好地服务实体经济。
Based on the A-share listed companies,this paper empirically examined the impact of media coverage on firms'labor investment efficiency and its mechanisms.The results show that media coverage has a positive effect on firms'labor investment efficiency.The mechanism tests show that the governance effect of media coverage plays through supervision mechanism,while the reputation mechanism has a masking effect.Further analyses show that,different types of media have differential effects on firms'labor investment efficiency.Compared with market-oriented media coverage,policy-oriented media coverage has a more significant effect on firms'labor investment efficiency.Compared with negative and neutral media reports,media coverage with positive tone has a more pronounced effect on labor investment efficiency.The results of the research reveal the internal mechanism between media coverage and firms'labor investment efficiency,which provide empirical evidence for enterprises to optimize human capital allocation and promote media to better serve the real economy.
作者
刘进
李霆威
LIU Jin;LI Tingwei(School of Business,Jiangnan University,Wuxi,Jiangsu,214122;School of Business,Nankai University,Tianjin,300071)
基金
国家社会科学基金后期资助项目“先进制造业竞争力研究”(21FGLB005)
江苏高校哲学社会科学研究重大项目“‘双循环’新发展格局下江苏先进制造业智能化建设研究”(2021SJZDA030)
江苏省社会科学基金—江苏省习近平新时代中国特色社会主义思想研究中心“学习贯彻党的二十届三中全会精神”研究专项“健全高质量充分就业促进机制研究”(24ZXZA035)。
关键词
媒体报道
劳动投资效率
监督机制
声誉机制
Media Coverage
Labor Investment Efficiency
Supervision Mechanism
Reputation Mechanism
