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A Study on the Relationship Between Technical Independent Directors and Enterprise Innovation Under Media Attention

Received: 26 May 2021     Accepted: 4 October 2021     Published: 29 November 2021
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Abstract

Independent director system plays a unique role in increasing the diversity of board members and increasing a company's intellectual capital. Based on prospect theory and signal theory, the media can also be considered to change the reputation level of independent directors on the board of directors of listed companies by disclosing relevant information about them and company operations. Moreover the media attention can not only accelerate the dissemination and promotion of knowledge and information, but also weaken the competitiveness of companies, reduce the value of companies, and then weaken their enthusiasm to invest in innovative projects This paper takes listed companies in the Chinese information technology industry from 2012 to 2017 as the research object and uses the multiple linear regression method to model the relationship between technical independent directors and enterprise innovation under the attention of the media. It is found that the technical independent director plays a positive role in consulting, supervising and strategic decision-making, which can improve the company’s innovation performance. At the same time, media attention weakens the positive impact of technology independent directors on enterprise innovation. The outcomes improve our understanding of the role of media in enterprise innovation and provide a new perspective and reference value for the construction of independent director systems and enterprise innovation.

Published in Journal of Finance and Accounting (Volume 9, Issue 6)
DOI 10.11648/j.jfa.20210906.16
Page(s) 258-267
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2021. Published by Science Publishing Group

Keywords

Technical Independent Director, Enterprise Innovation, Media Attention

References
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Cite This Article
  • APA Style

    Zheng Yong, Lai Anqi, Rongrong Lin, Yong Hu. (2021). A Study on the Relationship Between Technical Independent Directors and Enterprise Innovation Under Media Attention. Journal of Finance and Accounting, 9(6), 258-267. https://doi.org/10.11648/j.jfa.20210906.16

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    ACS Style

    Zheng Yong; Lai Anqi; Rongrong Lin; Yong Hu. A Study on the Relationship Between Technical Independent Directors and Enterprise Innovation Under Media Attention. J. Finance Account. 2021, 9(6), 258-267. doi: 10.11648/j.jfa.20210906.16

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    AMA Style

    Zheng Yong, Lai Anqi, Rongrong Lin, Yong Hu. A Study on the Relationship Between Technical Independent Directors and Enterprise Innovation Under Media Attention. J Finance Account. 2021;9(6):258-267. doi: 10.11648/j.jfa.20210906.16

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  • @article{10.11648/j.jfa.20210906.16,
      author = {Zheng Yong and Lai Anqi and Rongrong Lin and Yong Hu},
      title = {A Study on the Relationship Between Technical Independent Directors and Enterprise Innovation Under Media Attention},
      journal = {Journal of Finance and Accounting},
      volume = {9},
      number = {6},
      pages = {258-267},
      doi = {10.11648/j.jfa.20210906.16},
      url = {https://doi.org/10.11648/j.jfa.20210906.16},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20210906.16},
      abstract = {Independent director system plays a unique role in increasing the diversity of board members and increasing a company's intellectual capital. Based on prospect theory and signal theory, the media can also be considered to change the reputation level of independent directors on the board of directors of listed companies by disclosing relevant information about them and company operations. Moreover the media attention can not only accelerate the dissemination and promotion of knowledge and information, but also weaken the competitiveness of companies, reduce the value of companies, and then weaken their enthusiasm to invest in innovative projects This paper takes listed companies in the Chinese information technology industry from 2012 to 2017 as the research object and uses the multiple linear regression method to model the relationship between technical independent directors and enterprise innovation under the attention of the media. It is found that the technical independent director plays a positive role in consulting, supervising and strategic decision-making, which can improve the company’s innovation performance. At the same time, media attention weakens the positive impact of technology independent directors on enterprise innovation. The outcomes improve our understanding of the role of media in enterprise innovation and provide a new perspective and reference value for the construction of independent director systems and enterprise innovation.},
     year = {2021}
    }
    

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  • TY  - JOUR
    T1  - A Study on the Relationship Between Technical Independent Directors and Enterprise Innovation Under Media Attention
    AU  - Zheng Yong
    AU  - Lai Anqi
    AU  - Rongrong Lin
    AU  - Yong Hu
    Y1  - 2021/11/29
    PY  - 2021
    N1  - https://doi.org/10.11648/j.jfa.20210906.16
    DO  - 10.11648/j.jfa.20210906.16
    T2  - Journal of Finance and Accounting
    JF  - Journal of Finance and Accounting
    JO  - Journal of Finance and Accounting
    SP  - 258
    EP  - 267
    PB  - Science Publishing Group
    SN  - 2330-7323
    UR  - https://doi.org/10.11648/j.jfa.20210906.16
    AB  - Independent director system plays a unique role in increasing the diversity of board members and increasing a company's intellectual capital. Based on prospect theory and signal theory, the media can also be considered to change the reputation level of independent directors on the board of directors of listed companies by disclosing relevant information about them and company operations. Moreover the media attention can not only accelerate the dissemination and promotion of knowledge and information, but also weaken the competitiveness of companies, reduce the value of companies, and then weaken their enthusiasm to invest in innovative projects This paper takes listed companies in the Chinese information technology industry from 2012 to 2017 as the research object and uses the multiple linear regression method to model the relationship between technical independent directors and enterprise innovation under the attention of the media. It is found that the technical independent director plays a positive role in consulting, supervising and strategic decision-making, which can improve the company’s innovation performance. At the same time, media attention weakens the positive impact of technology independent directors on enterprise innovation. The outcomes improve our understanding of the role of media in enterprise innovation and provide a new perspective and reference value for the construction of independent director systems and enterprise innovation.
    VL  - 9
    IS  - 6
    ER  - 

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Author Information
  • Institute of Advanced Studies in Humanities and Social Sciences, Beijing Normal University at Zhuhai, Zhuhai, China

  • International Business Faculty, Beijing Normal University at Zhuhai, Zhuhai, China

  • International Business and Management Research Center, Beijing Normal University at Zhuhai, Zhuhai, China

  • Institute of Advanced Studies in Humanities and Social Sciences, Beijing Normal University at Zhuhai, Zhuhai, China

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