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| Research on the Impact of Negative Media Coverage on Corporate Strategic Response from the Perspective of Social Performance Feedback |
| LIAN Yanling，ZHENG Weiwei，LIU Yilin，GAO Hao |
| 1. East China Normal University, Shanghai, China; 2. The University of Texas at Dallas, Richardson, USA; 3. Tsinghua University, Beijing, China |
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Abstract Integrating the behavioral theory of the firm and institutional theory, this study discusses the impact of negative media coverage on corporate strategic response. Based on the data of A-share listed companies, the results show that: as a negative social performance feedback, negative media coverage will promote firms to take substantive additional social responsibility response. The independence of the board of directors and the coexistence of multiple major shareholders can strengthens the relationship between substantive additional social responsibility strategic response and negative media coverage. Negative financial performance feedback weakens the positive relationship between the two; Positive financial performance feedback strengthens the relationship. Further research indicates that negative media coverage had no significant impact on corporate substantive technical social responsibility response.
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Received: 21 December 2021
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