Social Media Sentiments and Firm Value

被引：9

作者：

Benjamin, Samuel Jebaraj ^{[1
]}

Biswas, Pallab Kumar ^{[2
]}

Marathamuthu, M. Srikamalaladevi M. ^{[1
]}

Arunachalam, Murugesh ^{[1
]}

机构：

[1] Univ Waikato, Sch Accounting Finance & Econ, Hamilton, New Zealand

[2] Univ Otago, Dept Accountancy & Finance, Dunedin, New Zealand

来源：

APPLIED ECONOMICS | 2022年 / 54卷 / 26期

关键词：

Social media sentiments; CSR; firm value; industry advertising intensity; fortune; 500; WORD-OF-MOUTH; ADVERTISING EXPENDITURE; FINANCIAL PERFORMANCE; PRODUCT REVIEWS; IMPACT; RESPONSIBILITY; SALES; WISDOM; MATTER;

D O I：

10.1080/00036846.2021.2001421

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines the link between social media sentiments and firm value. Using a sample of Fortune 500 firms from 2010 to 2017, we find that positive social media sentiments increase firm value, whereas negative social media sentiments do not decrease firm value. Next, we consider the link between social media sentiments and firm value in the context of the firms' environmental, social, and governance performance. Our main findings remain unchanged for firms with low environmental, social, and governance performance. We also find that these results are more pronounced for firms in industries with high advertising spending. Our results are supported by a series of robustness tests.

引用

页码：2983 / 2997

页数：15

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