Does regulatory punishment improve financial media's information intermediary role?

When punished by regulators, the financial press in China becomes more conservative, publishing less critical news and weakening its corporate governance function. Our paper indicates that regulatory punishment against media impairs the financial media's information intermediary role.(c) 2023 Elsevier B.V. All rights reserved.

Automated summary

Our study suggests that regulatory punishment against financial media weakens its corporate governance function and leads to a more conservative approach with less critical news being published.