Open AccessThe impact of social media adoption on firm value: Evidence from China
Author(s) -
Lin Li,
Wenpei Fang,
Bin Luo,
Wei Liang
Publication year - 2022
Publication title -
zhongguo kexue jishu daxue xuebao
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.13
H-Index - 10
ISSN - 0253-2778
DOI - 10.52396/justc-2021-0145
Subject(s) - social media , microblogging , china , value (mathematics) , business , marketing , context (archaeology) , social media marketing , matching (statistics) , enterprise value , channel (broadcasting) , industrial organization , digital marketing , political science , computer science , accounting , telecommunications , paleontology , statistics , mathematics , machine learning , biology , law
Social media has become an important channel for increasing firm value. The aim of this study is to explore the impacts of social media operation (i.e., microblog and short video platforms) on firm value in the context of China. The research adopts the multi-stage propensity score matching (PSM) and differences-in-differences (DID) design, and the reseach results indicating that the operation of short video platforms for social media marketing can significantly increase firm value. However, the operation of microblogs for social media marketing insignificantly affects firm value. This means that the company's operation of emerging social media platforms is of positive significance to firm value. Moreover, the conclusions of this study will guide the company's social media operations.