Is public opinion the external governance mechanism of corporate governance?

Public opinion can be regarded as one of the external governance mechanisms of corporate governance. Corporate governance refers to the internal management structure and operation mechanism of the company, aiming at ensuring the legitimacy, transparency, responsibility and efficiency of the company. The internal governance mechanism of corporate governance includes board of directors, board of supervisors and managers. The external governance mechanism of corporate governance includes regulators, investors, media and public opinion. Public opinion refers to public opinions and voices formed in society and widely spread, which can be expressed and spread through news media, social networks, public forums and other channels. Public opinion can have an important impact on corporate governance. For example, through media reports and public pressure, public opinion can urge companies to strengthen transparency, disclose information and improve their sense of social responsibility, thus safeguarding the legitimate rights and interests of companies and public interests. In addition, public opinion can also influence and restrict corporate governance structure and business decisions through investors' voting rights and investment behavior. Therefore, as one of the external governance mechanisms of corporate governance, public opinion plays an important role in promoting the legitimacy, transparency, openness and social responsibility of companies. The company should actively listen to the opinions of public opinion, strengthen communication and cooperation with all sectors of society, and establish a good sense of social responsibility and public image.