Asia-Pacific Journal of Business (아태비즈니스연구)

KNU The Institute of Management & Economy Research (강원대학교 경영경제연구소)
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Corporate use of Social Media and Corporate Social Performance: Evidence from Korea

기업의 SNS 활용과 사회적 책임 성과: 기업 연령의 조절 효과를 중심으로

  • Jee-Hyun Park (Department of Future and Convergence Business Administration, Myongji University) ;
  • Do-Kyun Kwon (Department of Business Administration, Graduate School, Sogang University) ;
  • Yang-Min Kim (College of Business Administration, Sogang University)
  • 박지현 (명지대학교 미래융합경영학과) ;
  • 권도균 (서강대학교 경영학과) ;
  • 김양민 (서강대학교 경영대학)
  • Received : 2024.05.30
  • Accepted : 2024.06.27
  • Published : 2024.06.30
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Abstract

Purpose - The purpose of this paper is to examine whether firms use social media to disseminate good news to various stakeholders thereby enhancing corporate social performance (CSP). Design/methodology/approach - This study collected data from various databases such as Korea Economic Justice Institute (KEJI) Index, VALUESearch, and TS2000, and such social media platforms as Instagram and Meta (formerly known as facebook). The sample of this study includes 3,474(firm-year) observations from 799 unique Korean firms between 2013-2022. This study conducts fixed effect panel regression analysis to test the hypotheses. Findings - First, we found both corporate use of social media, and the number of uploaded corporate news on social media were positively related to CSP. We also found that positive user reactions to the news on social media were positively related to CSP. Second, we examine the moderating roles of firm age in the relationships described above. The results show that firm age strengthens both the relationship between number of uploaded news on social media and CSP, and the relationship between positive user reactions to news on social media and CSP. Research implications or Originality - This study extends the social media research in the management literature by investigating how corporate use of social media, number of uploaded corporate news on social media, and the user reactions on the news on social media affect corporate social performance. For a practical implication, our results allow the stakeholders to better predict corporate future CSP. They suggest that ceteris paribus, firms that use social media actively, vis-a-vis firms that do not use social media actively, are more likely to get good CSP scores. They also suggest that such beneficial effects of social media will become more prominent as companies get older.

Keywords

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