{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,7,2]],"date-time":"2026-07-02T14:12:40Z","timestamp":1783001560099,"version":"3.54.5"},"reference-count":42,"publisher":"Public Library of Science (PLoS)","issue":"2","license":[{"start":{"date-parts":[[2025,2,26]],"date-time":"2025-02-26T00:00:00Z","timestamp":1740528000000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":["www.plosone.org"],"crossmark-restriction":false},"short-container-title":["PLoS ONE"],"abstract":"<jats:p>This study empirically investigates the relationship between negative new media coverage and audit fees by collecting a sample of nonfinancial listed companies on the main board of the Shanghai Stock Exchange (SSE) from 2017 to 2019, along with data on negative new media coverage of official WeChat public accounts founded by the most influential national financial newspaper obtained using a crawler. This study revealed that: 1. Audit fees are significantly and positively related to negative news media coverage; 2. The increase in audit fees is due to the fact that if a listed company undergoes negative new media coverage, the accounting firm that audits the company will consequently increase risk premium and thus audit fees. We found no evidence that accounting firms spend more time and effort on audit work after a listed company experiences negative new media coverage; 3. Analyst-tracking has a moderating effect on negative new media coverage and audit fees, leading to an increase in audit fees; 4. Negative media reporting on non-state-owned enterprises is more likely to cause accounting firms to increase their audit fees than their state-owned peers, whereas \u201cnon-Big Four\u201d accounting firms are more likely to increase their audit fees for companies with negative new media reports. This study, based on the differing impacts of negative new media coverage, intended to unravel the intricate relationship between different types of negative new media coverage and audit fees, help understand the mechanism whereby negative reporting impacts audit fees, and provides a benchmark for the development of a feasible audit fee system.<\/jats:p>","DOI":"10.1371\/journal.pone.0297237","type":"journal-article","created":{"date-parts":[[2025,2,26]],"date-time":"2025-02-26T18:40:31Z","timestamp":1740595231000},"page":"e0297237","update-policy":"https:\/\/doi.org\/10.1371\/journal.pone.corrections_policy","source":"Crossref","is-referenced-by-count":1,"title":["How does negative new media coverage impact audit fees, cost cover, or risk premium? Based on the data from WeChat official account by Crawler Technology"],"prefix":"10.1371","volume":"20","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-6826-9538","authenticated-orcid":true,"given":"Tao","family":"Feng","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Chuan","family":"Zhang","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"LiXia","family":"Liu","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Xin","family":"Lin","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"340","published-online":{"date-parts":[[2025,2,26]]},"reference":[{"issue":"3","key":"pone.0297237.ref001","first-page":"28","article-title":"Can new media help alleviate the contagion effect?\u2014evidence from environmental violations","author":"LS Fan","year":"2022","journal-title":"Accounting Research"},{"issue":"1","key":"pone.0297237.ref002","doi-asserted-by":"crossref","first-page":"274","DOI":"10.25300\/MISQ\/2014\/38.1.13","article-title":"What\u2019s different about social media networks? A framework and research agenda","volume":"38","author":"GC Kane","year":"2014","journal-title":"MIS Quater"},{"key":"pone.0297237.ref003","doi-asserted-by":"crossref","first-page":"63","DOI":"10.1016\/j.aos.2018.03.004","article-title":"Corporate social media: How two-way disclosure channels influence investors","volume":"68","author":"NL Cade","year":"2018","journal-title":"Account Organ Soc"},{"issue":"6","key":"pone.0297237.ref004","first-page":"165","article-title":"Do chain shareholders influence auditor pricing decisions","volume":"6","author":"R Liang","year":"2022","journal-title":"Accounting Research"},{"issue":"05","key":"pone.0297237.ref005","first-page":"192","article-title":"Negative information disclosure of analysts reports and stock price crash risk","volume":"22","author":"Z Yi","year":"2019","journal-title":"Nankai Business Rev"},{"key":"pone.0297237.ref006","first-page":"152","article-title":"Will media focus affect internal control audit pricing?","volume":"12","author":"D Mo","year":"2020","journal-title":"Macroeconomics"},{"issue":"07","key":"pone.0297237.ref007","first-page":"106","article-title":"Internet scrutiny and corporate governance effect of social media","volume":"36","author":"K Sun","year":"2020","journal-title":"J Manage World"},{"issue":"05","key":"pone.0297237.ref008","first-page":"33","article-title":"Research on the impact of negative media coverage on disclosure of key audit matters: Evidence from Weibo","volume":"37","author":"P Wu","year":"2022","journal-title":"J Audit Econ"},{"key":"pone.0297237.ref009","doi-asserted-by":"crossref","first-page":"295","DOI":"10.2307\/2491367","article-title":"Hopwood W and McKeown J M.The influence of contrary information and mitigating factors on audit opinion decisions on bankrupt","volume":"2","author":"JF Mutchler","year":"1997","journal-title":"J Account Res."},{"issue":"1","key":"pone.0297237.ref010","doi-asserted-by":"crossref","first-page":"109","DOI":"10.1111\/1475-679X.00098","article-title":"Why press coverage of a client influences the audit opinion","volume":"41","author":"JR Joe","year":"2003","journal-title":"J Account Res"},{"issue":"03","key":"pone.0297237.ref011","first-page":"123","article-title":"Media attention, institutional environment and audit fees","volume":"204","author":"M Ran","year":"2014","journal-title":"J Zhongnan Univ Econ Law"},{"issue":"06","key":"pone.0297237.ref012","first-page":"81","article-title":"Negative media coverage, litigation risk and audit fees","volume":"320","author":"Q Liu","year":"2014","journal-title":"Account Res"},{"issue":"1","key":"pone.0297237.ref013","doi-asserted-by":"crossref","first-page":"506","DOI":"10.1007\/s11142-013-9253-8","article-title":"A new measure of accounting quality","volume":"19","author":"P Hribar","year":"2013","journal-title":"Rev Account Stud"},{"issue":"06","key":"pone.0297237.ref014","first-page":"74","article-title":"Negative media coverage and audit fees - A perspective based on the change of firm organization form","volume":"204","author":"Z Xiao","year":"2016","journal-title":"Finan Theory Pract"},{"issue":"04","key":"pone.0297237.ref015","first-page":"57","article-title":"Does non-punitive regulation by stock exchanges influence auditors\u2019 pricing decisions? - Empirical evidence based on interrogatories","volume":"34","author":"L Mi","year":"2019","journal-title":"Audit Econ Res"},{"key":"pone.0297237.ref016","article-title":"How the \u201cInternet\u201d is reconfiguring communication","volume":"11","author":"D Huang","year":"2015","journal-title":"Guangming Daily"},{"key":"pone.0297237.ref017","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1016\/j.pacfin.2014.01.003","article-title":"Google search intensity and its relationship with returns and trading volume of Japanese stocks","volume":"27","author":"F Takeda","year":"2014","journal-title":"Pacific-Basin Finan J"},{"issue":"1","key":"pone.0297237.ref018","first-page":"135","article-title":"A study on new media governance and share price collapse risk","volume":"09","author":"YM Sun","year":"2018","journal-title":"Busin Res"},{"issue":"10","key":"pone.0297237.ref019","first-page":"143","article-title":"The impact of new media disclosure on liquidity-evidence from WeChat","volume":"31","author":"B Wang","year":"2017","journal-title":"East China Econ Manage"},{"issue":"7","key":"pone.0297237.ref020","first-page":"1805","article-title":"Study on the impact of new media on auditor\u2019s opinion decision making-an example of Sina Weibo","volume":"37","author":"M Zhao","year":"2017","journal-title":"Systems Engineering Theory and Practice"},{"key":"pone.0297237.ref021","first-page":"188","article-title":"The impact of \u201cvoting with your mouth\u201d on management voluntary disclosure","volume":"11","author":"D Wang","year":"2020","journal-title":"J Finan Res"},{"issue":"2","key":"pone.0297237.ref022","doi-asserted-by":"crossref","first-page":"1","DOI":"10.2308\/TAR-2018-0144","article-title":"The role of social media in corporate governance","volume":"96","author":"JS Ang","year":"2020","journal-title":"Account Rev"},{"issue":"3","key":"pone.0297237.ref023","first-page":"54","article-title":"A study on the mechanism of media governance\u2019s impact on CPA fees","volume":"205","author":"M Ran","year":"2016","journal-title":"Finan Econ Series"},{"issue":"5","key":"pone.0297237.ref024","doi-asserted-by":"crossref","first-page":"4533","DOI":"10.1111\/acfi.12664","article-title":"Employee quality and audit fees: evidence from China","volume":"60","author":"X Li","year":"2020","journal-title":"Account Finan"},{"key":"pone.0297237.ref025","first-page":"127","article-title":"Corporate governance mechanisms of media attention - An examination based on the perspective of surplus management","volume":"09","author":"ZB Yu","year":"2011","journal-title":"Management World."},{"key":"pone.0297237.ref026","first-page":"50","article-title":"Product market competition, competitive position and audit fees-based on the dual consideration of agency costs and operational risks","volume":"3","author":"L Xing","year":"2013","journal-title":"Audit Research"},{"issue":"2","key":"pone.0297237.ref027","first-page":"279","article-title":"Analyst coverage and stock price crash risk based on information generation process","volume":"18","author":"Y Han","year":"2021","journal-title":"Chin J Manage"},{"key":"pone.0297237.ref028","first-page":"121","article-title":"Media supervision, government intervention and corporate governance: evidence from the perspective of financial restatement of Chinese listed companies","volume":"11","author":"YY Dai","year":"2011","journal-title":"J World Econ"},{"key":"pone.0297237.ref029","first-page":"88","article-title":"Negative media coverage, audit fees and audit delays","volume":"04","author":"X Liu","year":"2017","journal-title":"Account Res"},{"key":"pone.0297237.ref030","first-page":"89","article-title":"Media monitoring, government quality and auditor change","volume":"10","author":"Y Dai","year":"2013","journal-title":"Account Res"},{"issue":"02","key":"pone.0297237.ref031","first-page":"1","article-title":"Reputational incentives, financial restatements and audit fees","volume":"16","author":"F Gao","year":"2019","journal-title":"J Nanjing Audit Univ"},{"issue":"4","key":"pone.0297237.ref032","article-title":"Media coverage and the cross-section of stock returns: the Chinese evidence","volume":"19","author":"L Zou","year":"2019","journal-title":"Int Rev Finan"},{"issue":"3","key":"pone.0297237.ref033","first-page":"102","article-title":"Does media monitoring affect audit pricing preliminary empirical: Evidence from China securities market","volume":"35","author":"J Zhang","year":"2013","journal-title":"J Shanxi Univ Finan Econ"},{"issue":"1","key":"pone.0297237.ref034","first-page":"26","article-title":"Does Medja monitoring affect audit opinion: Empirical evidence from China securities market","volume":"28","author":"Y Yu","year":"2013","journal-title":"J Audit Econ"},{"issue":"3","key":"pone.0297237.ref035","first-page":"96","article-title":"Corporate risk-taking, audit effort and audit opinion","volume":"3","author":"J Hong","year":"2021","journal-title":"Auditing Res"},{"issue":"1","key":"pone.0297237.ref036","first-page":"59","article-title":"Securities analyst concerns, nature of property rights and audit fees","volume":"13","author":"B Zhao","year":"2016","journal-title":"J Nanjing Audit Institute"},{"issue":"4","key":"pone.0297237.ref037","first-page":"39","article-title":"Abnormal audit fees and analyst tone-based on text analysis of analyst reports","volume":"4","author":"Y Wang","year":"2019","journal-title":"Audit Research"},{"issue":"02","key":"pone.0297237.ref038","first-page":"52","article-title":"Vertical concurrent senior management, nature of property rights and audit fees","volume":"36","author":"C Wei","year":"2021","journal-title":"Audit Econ Res"},{"key":"pone.0297237.ref039","first-page":"26","article-title":"Media supervision, government intervention and audit quality","volume":"05","author":"L Zhou","year":"2015","journal-title":"Social Sciences of Beijing"},{"issue":"3","key":"pone.0297237.ref040","doi-asserted-by":"crossref","first-page":"183","DOI":"10.1016\/0165-4101(81)90002-1","article-title":"Auditor size and audit quality","volume":"3","author":"LE DeAngelo","year":"1981","journal-title":"J Account Econ"},{"issue":"04","key":"pone.0297237.ref041","first-page":"462","article-title":"Differences in clients\u2019 potential legal risk, auditor size hierarchy and audit response strategies","volume":"9","author":"K Pan","year":"2011","journal-title":"China Accounting Rev"},{"key":"pone.0297237.ref042","first-page":"59","article-title":"Firm size - brand - price and audit quality - a study of fees and quality in the international \u201cBig Four\u201d China audit market","volume":"3","author":"J Qi","year":"2004","journal-title":"Audit Res"}],"container-title":["PLOS ONE"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/dx.plos.org\/10.1371\/journal.pone.0297237","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,2,26]],"date-time":"2025-02-26T18:40:46Z","timestamp":1740595246000},"score":1,"resource":{"primary":{"URL":"https:\/\/dx.plos.org\/10.1371\/journal.pone.0297237"}},"subtitle":[],"editor":[{"given":"Simon","family":"Grima","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"editor"}]}],"short-title":[],"issued":{"date-parts":[[2025,2,26]]},"references-count":42,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2025,2,26]]}},"URL":"https:\/\/doi.org\/10.1371\/journal.pone.0297237","relation":{},"ISSN":["1932-6203"],"issn-type":[{"value":"1932-6203","type":"electronic"}],"subject":[],"published":{"date-parts":[[2025,2,26]]}}}