Changing Corporate Governance in Response to Negative Media Reports
研究了企业如何根据媒体负面报道中暴露的信任损害类型（低诚信或低善意）来调整公司治理，包括更换关键人员或改变治理流程，并考察了外资与国有持股的调节作用。
Abstract We study how organizations change their corporate governance in response to negative publicity in the media. We build on insights from the literature on interpersonal trust to theorize how organizations respond to different types of trust‐damaging information. We suggest that organizations are likely to replace key individuals involved in the corporate governance process when trust‐damaging information provides evidence of low integrity. In contrast, organizations are likely to make changes in how the governance process is organized when trust‐damaging information provides evidence of low benevolence. We test our hypotheses by using data on publicly traded Korean firms from 2006 to 2013. Our results provide general support for our argument about corporate governance changes that organizations initiate in response to different types of trust‐damaging information. We also explore how foreign ownership and state ownership moderate organizational responses to trust‐damaging information.