文献类型：期刊文献

中文题名：传媒发展环境与资本市场发展的地区差异——经济后果与影响因素研究

英文题名：Regional Differences in the Relationship among Media Development Environment and Capital Market——Consequences and Influencing Factors

作者：熊艳[1]

机构：[1]华东理工大学商学院

年份：2018

卷号：37

期号：8

起止页码：58

中文期刊名：投资研究

外文期刊名：Review of Investment Studies

收录：国家哲学社会科学学术期刊数据库;北大核心:【北大核心2017】；CSSCI:【CSSCI_E2017_2018】；

基金：国家自然科学基金青年项目(批准号:71702056);教育部人文社会科学研究青年基金项目(批准号:16YJC630147;18YJC790230);上海市哲学社会科学规划青年课题(批准号:2016EJB004);中央高校基本科研业务费专项资金(批准号:222201624002)

语种：中文

中文关键词：传媒发展环境;资本市场发展;非正式制度;正式制度

外文关键词：Media Development Environment;Capital Market Development;Informal Institutions;Formal Institutions

摘要：本文基于宏观视角验证传媒发展环境与资本市场发展的关系,并从法律环境、政府管制、文化环境以及信息化程度等方面考察各国以及我国各地区传媒发展环境的影响因素。本文研究表明,良好的传媒发展环境将能促进资本市场的发展,包括拥有数量更多的上市公司、更高的资本市场市值占GDP比及股票交易额占GDP比。传媒发展环境受正式制度与其他非正式制度影响:法律环境越好、政府干预越弱,以及文化环境越好、信息化程度越高的地区,传媒发展环境越好。本文验证了研究结论在不同国家和地区中的普适性,为非正式制度对经济绩效的影响提供了实证证据,肯定了媒体这一非正式制度对资本市场的积极作用,并为我国完善传媒发展环境提供了理论借鉴。
This paper examines the relationship between media development environment and capital market development, and the influencing factors of media development environment across borders and regions in China which refer to legal, government regulation, cultural and information environment. This study shows that media development environment will promote the development of capital market, inducing more listed companies, higher market value of capital market to GDP ratio and stock trading volume to GDP ratio. The media development environment is influenced by formal institution and other informal institution: good media development environment is due to good legal environment, weak government intervention, good cultural environment and more information-rich environment. This paper verifies the argument universality in different countries and regions, and provides empirical evidence for the impact of informal institution on economic performance. In addition, the study reveals the positive role of media as an informal institution on capital market, and provides theoretical reference for improving the environment of media development in China.