The Role of Social Media in Corporate Management of Crises

Abstract

Abstract: In addition to responding to public sentiment on social media passively, the company can initiatively use social media to deal with crises as well. Based on manually collected data about listed company's blog message on Sina microblog from 2010 to 2016, we find that after the exposure of corporate crises, in order to change the distribution of investors' attentions on different information channels and dilute investors' attentions on the crises, the focal firms will intentionally publish a large number of irrelevant blogs through their official accounts, especially for those with good experience on using official blogs. Subsequently, the behavior of the companies will mitigate investors' negative reactions to crisis events during the following days.

Key words: crisis management, social media, investor attention, Sina microblog

Jia Ming, Sun Xiangkun, Zhang Zhe. The Role of Social Media in Corporate Management of Crises[J]. Management Review, 2021, 33(5): 295-304.

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