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14期

编辑：李超审核：李超

TheReviewofFinancialStudies（14）

WhoCapturesthePowerofthePen?

WhoCapturesthePowerofthePen?

TheReviewofFinancialStudies,,31(1):43-96

JiaxingYou,XiamenUniversityBohuiZhang,TheChineseUniversityofHongKongLeZhang,UNSWBusinessSchool

Abstract

Westudyhowgovernmentcontrolaffectstherolesofthemediaasaninformationintermediaryandacorporatemonitor.Comparingalargesampleofnewsarticleswrittenbystate-controlledandmarket-orientedChinesemedia,wefindthatarticlesbythemarket-orientedmediaaremorecritical,moreaccurate,more