【作者】 刘莉；

【导师】 殷琦；

【作者基本信息】 厦门大学 ， 新闻与传播， 2017， 硕士

【摘要】 企业的政治关联普遍存在于各个行业。传媒天然的政治属性使得传媒产业不同于一般经济领域的其他产业,对传媒产业而言,政府的参与和干预较多,并实行较严格的规制。因此,传媒与政治之间的关系一直颇受关注。政治关联作为考察企业与政治关系的重要视角,对我们理解政治对传媒业的影响颇有帮助。于是,传媒上市公司的高管政治关联程度如何,高管政治关联是否会对企业绩效产生影响,不同类型的高管政治关联影响是否一样,这些问题就成为本文的核心议题。为此,本研究以中国传媒上市公司高管的政治关联为自变量,以企业盈利指标作为衡量企业绩效的因变量,对中国传媒上市公司的高管政治关联与其绩效之间的内在联系进行了实证研究。本文选取了 2012年至2016年五个会计年度间正常经营的传媒上市企业145个平衡面板数据作为研究单位,收集整合了相关数据并用多元线性回归模型进行处理和解释。研究发现,大部分的中国传媒上市公司存在政治关联,虽然总体上中国传媒上市公司高管政治关联对公司绩效影响有限,但国有传媒上市公司委员代表类政治关联对企业绩效呈现显著的正效应。本文认为这缘于两者内在关系的复杂性。一方面,政治关联在中国特殊的市场环境下,不区分政治联系的方式可能使得研究结果出现一定的偏差。将关键性高管政治关联划分为政府官员类政治关联和委员代表类政治关联能够较好地反映我国目前企业家参政议政或者企业聘请前任官员担任高管的现实实践:在市场化程度不断加大的背景下,代表委员类政治关联使得企业能够通过参政议政、协同监督的正规渠道争取最大利益。反之,政府官员类政治关联由于如今政务透明化的环境,高管政治人脉和关系对于企业规避风险、争取优惠的便利性不再显著。另一方面,国有传媒上市公司和非国有传媒上市公司由于不同的先天因素,不同类型的高管政治关联对二者产生不同的影响。国有传媒上市公司具有先天的政治依赖性,在政府官员类政治关联式微的情况下,委员代表类政治关联成为助力国有传媒上市公司绩效增长的强心针。而对于近几年市场下经济成长起来的非国有传媒上市公司来说,政治关联对其绩效的影响并不显著。针对目前中国传媒上市公司的现状,笔者认为要从以下几个方面进行改革:一、完善市场机制,建立公平竞争体制。二、鼓励参政议政,通畅政府和传媒企业信息交换渠道。三、分而治之,对非国有传媒公司予以政策关照,推进非公有制经济的平衡发展。更多还原

【Abstract】 Political connections among enterprises are prevalent in various industries.The natural political properties of the media make the media industry different from other industries in the general economic field.For the media industry,the government’s participation and intervention are more severe.Therefore,the relationship between media and politics has attracted considerable attention.Political connections,as an important perspective to examine the relationship between enterprises and politics,are quite helpful for us to understand the political impact on the media industry.So,how about the political connections of senior executives in the media listed companies,whether the political connections of senior executives will have an impact on corporate performance,and whether the different types of executive political connections have the same impact,these problems become the core issues of this paper.Therefore,this study takes the political connections of senior executives of Chinese media listed companies as the independent variables,and the enterprise profit indicators as the dependent variables to measure the performance of the enterprises.The internal relations between the executive political connections of Chinese media listed companies and their performance are explored by empirical research.In this paper,145 balanced panel data of media listed companies,which are normally operated in the five fiscal years from 2012 to 2016,were selected as the research units,and the relevant data were collected,processed and explained by multiple linear regression models.It was found that most of the Chinese media listed companies have political connections.Although the political connections of Chinese media listed companies had limited influence on corporate performance,the political connections of state-owned media listed companies have significant positive effects on corporate performance.This paper argued that this is due to the complexity of the intrinsic relationship between them.On the one hand,it may make a certain deviation if it does not distinguish between political connections in China’s special market environment.The political connections of key senior executives divided into government officials type and committee members type can better reflect the executive practice of the current entrepreneurs in China to participate in government affairs or to employ former officials as senior executives:In the background of increasing marketization,the committee members political connections make it possible for enterprises to strive for maximum benefits through formal participation in political affairs and coordinated supervision.On the contrary,the government officials political connections because of today’s government transparency environment,are no longer significant for avoiding risks and get the convenience of preferential treatment.On the other hand,different types of executive political connections have different effects,due to the different congenital factors of state-owned media listed companies and non-state-owned media listed companies.State-owned media listed companies have inherent political dependence,in the case of declined government officials political connections,the committee members political connections restore confidence in the performance of state-owned media listed companies.For the non-state-owned media listed companies grown up in the market in recent years,the impact of political connections on their performance is not significant.In view of the current situation of China’s media listed companies’ the author believes that the following aspects should be reformed:First,improve the market mechanism and establish a fair competition system.Second,to encourage political participation,open information exchange channels between government and media enterprises.Third,give policy support to non-state-owned media companies to promote the balanced development of non-public economy and public economy.更多还原