Supply Chain Spillover Effect of Media Attention to Customers from the Perspective of Real Earnings Management
Finance Research Letters(2024)
摘要
This paper investigates how media attention to customers affects the supplier's information environment from the perspective of real earnings management. Our empirical results for 2010–2020 reveal a negative association between media attention to customers and the supplier's real earnings management. Causality is established through the instrumental variable two-stage least squares approach. Cross-sectional tests further illustrate that more external supervision and internal constraints are two potential channels for this observed relationship. Overall, our findings emphasize that the media, as a crucial information intermediary, significantly affects the behavior of companies in the supply chain.
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关键词
Media attention,Supply chain spillover,Real earnings management
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