caa a22 4500 605485380 CHVBK 20210128100440.0 cr unu---uuuuu 210128e20150301xx s 000 0 eng 10.1007/s10551-014-2055-5 doi (NATIONALLICENCE)springer-10.1007/s10551-014-2055-5 Media Coverage and Firm Valuation: Evidence from China [Elektronische Daten] [Jiwei Wang, Kangtao Ye] Drawing on both a managerial discipline perspective and an information intermediary perspective, we explore how media coverage of a firm's controlling shareholder influences firm valuation in corporate China. Using 366 listed family firms in China from 2003 to 2006, we find that firms in which controlling shareholders receive more neutral media reports enjoy higher valuation, whereas negative media reports on controlling shareholders impose adverse effects on firm valuation. Interestingly, favorable media coverage of the controlling shareholders does not enhance firm value. Further analyses reveal that ownership structure and audit quality moderate the relationship between media coverage and firm valuation. Our study complements the emerging literature on the monitoring role of the media on the stock markets. Springer Science+Business Media Dordrecht, 2014 Media coverage nationallicence Valuation nationallicence Family firms nationallicence China nationallicence Wang Jiwei School of Accountancy, Singapore Management University, Singapore, Singapore aut Ye Kangtao School of Business, Renmin University of China, 100872, Beijing, People's Republic of China aut Journal of Business Ethics Springer Netherlands 127/3(2015-03-01), 501-511 0167-4544 127:3<501 2015 127 10551 https://doi.org/10.1007/s10551-014-2055-5 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s10551-014-2055-5 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Wang Jiwei School of Accountancy, Singapore Management University, Singapore, Singapore aut NATIONALLICENCE 700 1- Ye Kangtao School of Business, Renmin University of China, 100872, Beijing, People's Republic of China aut NATIONALLICENCE 773 0- Journal of Business Ethics Springer Netherlands 127/3(2015-03-01), 501-511 0167-4544 127:3<501 2015 127 10551