How does change in CEOs' strategic orientations in their social media communication impact firm performance during crisis? A longitudinal study

Hitesha Yadav, Arpan Kumar Kar, Smita Kashiramka and Nripendra P. Rana

Technological Forecasting and Social Change, 2024, vol. 208, issue C

Abstract: The social media (SM) presence of the CEOs and their sustainability-related communication plays a major role in handling business communication and shaping firm strategic outcomes during a crisis. In turbulent times of crisis, stakeholders seek credible information for their better decision-making towards firms. Therefore, it becomes essential for the CEOs to engage with the stakeholders and manage firm value strategically. This empirical study utilizes the Twitter posts of Fortune 1000 CEOs for their sustainability communication through their different orientations i.e., SDG, entrepreneurial, and leadership styles. The study employs mixed research methodology through a longitudinal event study to determine the change in the CEOs' strategic orientations, its influence on the CEOs' SM reputation, and firm performance before and during the crisis. Findings showcase that the change in CEOs' strategic orientation in their sustainability-related disclosures positively influences stakeholder engagement and the CEOs' SM reputation during a crisis. Also, the strategic orientations of the CEOs and their SM reputation as a resource provide competitive advantages to the firms for their enhanced firm financial performance. Our study contributes to both research and practice of using SM strategically for their sustainability communication to achieve improved firm performance during a crisis.

Keywords: Social media; Online reputation; Firm performance; Sustainable development goals; Entrepreneurial orientation; Leadership style (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:208:y:2024:i:c:s0040162524004475

DOI: 10.1016/j.techfore.2024.123649

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