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Self‐media information disclosure and firm productivity

Author

Listed:
  • Yongjian Huang
  • Yiqing Zhou
  • Luyao Mou
  • Haolin Li
  • Yining Zhang

Abstract

Using Sina Weibo data obtained through crawler technologies from 2013 to 2021, this study investigates the relationship between self‐media information disclosure and firm productivity. We find that self‐media information disclosure promotes firm productivity, a conclusion that withstands various robustness and endogeneity tests. Particularly, original microblogs exhibit a more significant impact. Further analysis reveals that the promoting effect is more pronounced in listed companies with lower annual retweets, small companies, and those with lower turnover. Finally, a mechanism analysis indicates that self‐media information disclosure enhances enterprise productivity by alleviating financing constraints, enhancing corporate innovation, and strengthening corporate governance.

Suggested Citation

  • Yongjian Huang & Yiqing Zhou & Luyao Mou & Haolin Li & Yining Zhang, 2024. "Self‐media information disclosure and firm productivity," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(6), pages 3959-3971, September.
    • Handle: RePEc:wly:mgtdec:v:45:y:2024:i:6:p:3959-3971
    DOI: 10.1002/mde.4237
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