This study attempts to verify the functions of the main part of the media policy in European society, especially through the establishment of a public service broadcaster (PSB) and the creating of entry barriers by a licensing system in the terrestrial broadcasting market through developments in social psychology and communication theory. Thus far, media policy has been examined normatively and theoretically, but less rigorous proofs were provided. Our analysis integrates patch-worked and multi-dimensional past researches and clarifies the causal relationships in the overall picture through a structural equation model (SEM) using data from various social surveys. This reveals that these policies have a positive effect on people’s acquisition of the basic requirements for democracy, the development of social capital and people’s quality of life, happiness.
Key words: Media policy, broadcasting regulation, democracy, social capital, happiness, structural equation model.
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