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Prudent promises: The impact of online public opinion attention on managerial commitment to integrity in China

Author

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  • Hu, Jian
  • Wang, Dan
  • Zeng, Hongjun
  • Ma, Shenglin

Abstract

Online public opinion has emerged as an increasingly influential driver of capital market oversight in the digital economy. It not only influences the boundaries of managerial behavior but also constrains the credibility of corporate commitments, highlighting the importance of exploring its mechanisms from both theoretical and applied angles. Employing a 2008–2023 sample of Chinese A-share firms, online opinion is proxied by an index constructed through text extraction and analysis of stock-forum content. It empirically investigates how online public opinion affects managerial integrity commitments and systematically explores the mechanisms through which these effects unfold. The findings demonstrate that online public opinion exerts a significant constraining effect on managerial integrity commitments. The empirical analysis reveals that online opinion significantly restricts integrity commitments, and this finding remains robust after addressing potential endogeneity and performing a wide range of robustness checks. Mechanism tests show that online public opinion weakens integrity commitments by intensifying earnings management incentives, fostering managerial short-termism, and amplifying market pressures. Heterogeneity tests show that the inhibitory impact is more pronounced in firms located in regions with lower social trust, in companies subject to stronger negative media exposure, and where executives face greater career-related risks. Additional evidence reveals that a well-functioning information environment can mitigate the adverse role of online opinion by reducing distortions in managerial commitments. Overall, this research contributes new empirical evidence on the formation of corporate integrity within the digital public sphere and provides policy insights for strengthening opinion governance, enhancing external monitoring, and improving transparency in corporate governance in emerging markets.

Suggested Citation

  • Hu, Jian & Wang, Dan & Zeng, Hongjun & Ma, Shenglin, 2026. "Prudent promises: The impact of online public opinion attention on managerial commitment to integrity in China," Technology in Society, Elsevier, vol. 86(C).
    • Handle: RePEc:eee:teinso:v:86:y:2026:i:c:s0160791x26000448
    DOI: 10.1016/j.techsoc.2026.103255
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