The business value of firms’ social media efforts: evidence from Facebook

Chung, Sunghun, Animesh, Animesh, Han, Kunsoo and Pinsonneault, Alain (2015). The business value of firms’ social media efforts: evidence from Facebook. In: Proceedings of the 17th International Conference on Electronic Commerce 2015. International Conference on Electronic Commerce (ICEC), Seoul, South Korea, (). 3-5 August 2015. doi:10.1145/2781562.2781604

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Author Chung, Sunghun
Animesh, Animesh
Han, Kunsoo
Pinsonneault, Alain
Title of paper The business value of firms’ social media efforts: evidence from Facebook
Conference name International Conference on Electronic Commerce (ICEC)
Conference location Seoul, South Korea
Conference dates 3-5 August 2015
Convener Jae Kyu Lee
Proceedings title Proceedings of the 17th International Conference on Electronic Commerce 2015
Journal name ACM International Conference Proceeding Series
Place of Publication New York, NY, United States
Publisher ACM
Publication Year 2015
Sub-type Fully published paper
DOI 10.1145/2781562.2781604
Open Access Status Not Open Access
ISBN 9781450334617
Volume 03-05-August-2015
Total pages 8
Collection year 2016
Language eng
Abstract/Summary This study theorizes and empirically examines how firms’ social media efforts—in terms of intensity, richness, and responsiveness—influence consumer behavior and firm performance. Using detailed data collected from the Facebook pages of 63 firms over the 2010-2012 period, we find that the richness and responsiveness of a firm’s social media efforts are significantly associated with the firm’s market performance, captured by abnormal returns and Tobin’s q. Interestingly, the intensity of a firm’s social media efforts is not significantly associated with firm performance. We also find that not only do consumer engagement and attention directly impact firm performance, but they also mediate the relationship between a firm’s social media efforts and firm performance. Unlike prior studies that examine the impact of third-party or consumerinitiated social media, such as blogs and consumer ratings, our study focuses on estimating financial returns to firms’ own efforts on firm-initiated social media, thereby assessing the business value of social media directly.
Keyword Social media
Firms’ social media efforts
Firm performance
Business value of social media
Q-Index Code E1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Conference Paper
Collections: Official 2016 Collection
UQ Business School Publications
 
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Created: Fri, 09 Oct 2015, 13:23:03 EST by Sunghun Chung on behalf of UQ Business School