资本市场与媒体传播效应关系研究述评

媒体是资本市场中的重要角色,不可或缺,具有信息公开、丑闻揭露、市场预测、事件调查等多种功能。在既有的国内国外资本市场和媒体传播效应研究成果的基础上,对相关文献做了进一步系统梳理,从资本市场定价、股票收益、公司治理、投资者行为等四个方面,深入探讨了资本市场与媒体传播效应的关系及其作用机制。

Summary of the Research on Capital Market andMedia Communication Effects

The media is an indispensable and important role in the capital market,playing multiple identities such as information publisher,scandal exposer,market forecaster,and incident investigator.On the basis of the existing theoretical research of capital markets and media communication effects both domestic and abroad,this article systematically sorts out relevant literature,and makes an in-depth discussion on the relationship and mechanism between the capital market and media communication effectsfrom four aspects,entailing capital market pricing,stock returns,corporate governance,and investor behavior.