电商直播行业是近年来发展的新兴行业，其发展势头迅猛，但在行业发展初期乱象频出，导致行业利益相关者声誉严重受损。本文从声誉视角，运用计算机辅助文本分析法（ACA），以辛巴某电商直播中燕窝售假事件为研究案例，通过词语云和三级编码对所选取的评论样本进行文本分析，结合利益相关者理论，从认知声誉和情感声誉得出电商直播行业受损的特征和表现，并在此基础上探讨了电商直播声誉重建的机制，提出了主播塑造和维护自身声誉、平台企业加强内部监管、政府监管和第三方认证机制协同治理等建议。

The e-commerce live-streaming industry is an emerging industry developed in recent years, and its development momentum is rapid, but in the early development of the industry, problems occur frequently, leading to serious damage to the reputation of industry stakeholders. From the perspective of reputation, this paper uses computer-assisted text analysis (ACA), takes the Xinba cubilose sales counterfeit incident in a live e-commerce broadcast as a research case, conducts text analysis on the selected comment samples through word cloud and three-level coding, and combines with stakeholder theory to derive the characteristics and performance of the damaged e-commerce live industry from cognitive reputation and emotional reputation. On this basis, the mechanism of e-commerce live-streaming reputation reconstruction is explored, and put forward suggestions for anchors to shape and maintain their reputation, platform enterprises to strengthen internal regulation, government regulation, and third-party certification mechanisms to collaborate in governance, and so on.