讲座时间：

2024年7月25日（星期四）下午13:30

讲座地点：

下沙校区5号楼416会议室

报告题目：

If You Do Not Like Me, I Say ESG: Social Media Negative Sentiment and ESG Communication

报告人：

Dr. Hang Dong

Assistant Professor of Information Systems and Finance

IE Business School, IE University, Spain

个人简介：

Hang Dong is an Assistant Professor of Information Systems and Finance at the IE Business School, IE University, Spain. He received his Ph.D. in Business Administration and Quantitative Methods at the University Carlos III of Madrid. His research interests include: social media; mutual funds; individual investor behavior; and information flows in financial markets. He has published papers in International Review of Financial Analysis, Journal of Accounting and Public Policy, Journal of Business Research, Journal of Interactive Marketing, Journal of the Association for Information Science and Technology (JASIST), and Information and Management.

报告摘要：

In this paper, we investigate how social media influences firms´ managerial decisions. We claim that social media negative sentiment damages firms´ reputation significantly. As a result, firms issue ESG communications to mitigate this process. To support our claim, we associate the number of social media posts with negative sentiment and the number of firms´ ESG communications. We find a positive relationship, consistent with our prediction. We show causality using Twitter data from Donald Trump. Firms increase their ESG communications considerably after being mentioned negatively in Trump's tweets. To provide more evidence for our claim, we conduct additional analyses and show that the release of positive ESG communications helps in slowing down the growth rate of social media negative sentiment and the effect is short term. In sum, our results show that social media is not only a pure information disseminator, but also relates to firms´ reputation.