Social media and firm performance: a review

Paige Costanzo and Christine Kirkland

Chapter 5 in A Research Agenda for Mergers and Acquisitions, 2024, pp 105-122 from Edward Elgar Publishing

Abstract: Social media is an increasingly common tool to disclose information and engage with shareholders, but research on whether shareholder or other stakeholder reactions on social media impact firm performance remains limited. We review and summarize existing research on the relationship between social media and firm performance. The findings provide evidence that social media activity internal and external to a firm can impact performance. While reviewed research identifies a positive effect of social media on firm performance, it is mostly based on internal firm and positive or informational messages. We discuss implications and opportunities for acquisition research.

Keywords: Business and Management; Economics and Finance (search for similar items in EconPapers)
Date: 2024
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