 How do the content, format, and tone of Twitter-based corporate disclosure vary depending on earnings performance?Jongkyum Kim, Jee-Hae Lim and Kyunghee Yoon International Journal of Accounting Information Systems, 2022, vol. 47, issue C Abstract: Using 86,891 tweets, from the official corporate Twitter accounts of 715 unique firms, this study examines whether and how managers strategically attract and distract investors’ attention from corporate news through Twitter. We find that firms with good earnings news use Twitter to post more earnings-related information directly, whereas firms with bad earnings news post more non-earnings-related information on Twitter. We further find that depending on earnings performance firms strategically choose the format of tweets (qualitative or quantitative) and the tone of earnings tweets (positive or negative) to attract investors’ attention to good news or distract investors’ attention from bad news. Our results are robust to difference-in-differences (DID), alternative sample periods, and different variable specifications. Our findings provide empirical evidence for investors and regulators regarding current practices in corporate information on Twitter. Keywords: Strategic disclosure; Social media; Twitter (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ijoais:v:47:y:2022:i:c:s1467089522000264 DOI: 10.1016/j.accinf.2022.100574 Access Statistics for this article International Journal of Accounting Information Systems is currently edited by S.V. Grabski More articles in International Journal of Accounting Information Systems from Elsevier |
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