Media Coverage and the Noneffective Investment

Abstract

With the progress of science and technology, the internet has become a new information media tool, and the power of media has begun to affect the capital market. With the rapid development of the internet and market, China's culture, sports and entertainment industry has received more and more attention from the media. This paper takes A-share listed companies in the culture, sports and entertainment industry in Shanghai and Shenzhen stock exchange in 2014-2018 as the research sample, and studies the influence of media attention on noneffective investment of listed companies. The results show that noneffective investment is common in this industry, and media attention can alleviate the problem of over investment. Finally, based on the analysis, the paper puts forward relevant suggestions for enterprises and government.