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Stakeholders versus Firm Communication in Social Media: The Case of Twitter and Corporate Social Responsibility Information

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  • Pablo Gómez-Carrasco
  • Encarna Guillamón-Saorín
  • Beatriz García Osma

Abstract

Building on legitimacy theory and prior work on stakeholder management, we study firm Corporate Social Responsibility (CSR) communication in social media. In particular, we analyze the content of over a million microblogs on Twitter relating to CSR in the banking industry. We focus on key issues considered by banks in their CSR reports, which we classify into Core or Supplementary depending on their connection with core business activities. We find that the use of Twitter to communicate CSR information in social media suggests that significant differences exist between the information interests of companies and stakeholders. Outside stakeholders focus on Core CSR issues, whilst firm insiders are relatively more likely to communicate Supplementary CSR issues. Firm insiders’ information dissemination appears biased towards favorable information, and consistent with a legitimacy-based use of social media. Event studies conducted on dates with significant exogenous CSR news confirm the findings of ‘parallel’ talking, and no resemblance in the CSR issues communicated by firms and stakeholders in social media.

Suggested Citation

  • Pablo Gómez-Carrasco & Encarna Guillamón-Saorín & Beatriz García Osma, 2021. "Stakeholders versus Firm Communication in Social Media: The Case of Twitter and Corporate Social Responsibility Information," European Accounting Review, Taylor & Francis Journals, vol. 30(1), pages 31-62, January.
    • Handle: RePEc:taf:euract:v:30:y:2021:i:1:p:31-62
    DOI: 10.1080/09638180.2019.1708428
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    Cited by:

    1. Nerantzidis, Michail & Tampakoudis, Ioannis & She, Chaoyuan, 2024. "Social media in accounting research: A review and future research agenda," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 54(C).
    2. Juana Alonso-Cañadas & Laura Saraite-Sariene & Federico Galán-Valdivieso & María del Carmen Caba-Pérez, 2023. "Green Tweets or Not? The Sustainable Commitment of Higher Education Institutions," SAGE Open, , vol. 13(4), pages 21582440231, December.
    3. Booker, Adam & Chiu, Victoria & Groff, Nathan & Richardson, Vernon J., 2024. "AIS research opportunities utilizing Machine Learning: From a Meta-Theory of accounting literature," International Journal of Accounting Information Systems, Elsevier, vol. 52(C).
    4. Ahmed Abdel Magid & Khaled Hussainey & Javier De Andrés & Pedro Lorca, 2023. "The Moderating Role of Online Social Media in the Relationship between Corporate Social Responsibility Disclosure and Investment Decisions: Evidence from Egypt," IJFS, MDPI, vol. 11(2), pages 1-26, April.
    5. Ashish Kumar Jha & Nishant Kumar Verma, 2023. "Social Media Sustainability Communication: An Analysis of Firm Behaviour and Stakeholder Responses," Information Systems Frontiers, Springer, vol. 25(2), pages 723-742, April.
    6. Schniederjans, Dara G. & Khalajhedayati, Mehrnaz, 2023. "Corporate Responsibility Communication and Score Trends: A Buyer and Supplier Perspective," International Journal of Production Economics, Elsevier, vol. 257(C).
    7. Gu, Yu & Dai, Jun & Vasarhelyi, Miklos A., 2023. "Audit 4.0-based ESG assurance: An example of using satellite images on GHG emissions," International Journal of Accounting Information Systems, Elsevier, vol. 50(C).
    8. Ahmed, Mohamed Shaker & Elnahass, Marwa, 2024. "Being famous matters: Evidence from cash flow volatility," International Review of Financial Analysis, Elsevier, vol. 93(C).

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