Trust has always been a critical issue in online shopping environments. However, it is even more important in social commerce platforms, due to the salient role of peer-generated contents on users' purchase intentions. This study investigates the relationship between trust of social commerce and users' purchase intentions and proposes a mechanism explaining the relationship. Thus, we present a main and two alternative models by drawing on the critical notions related to purchase intention, including social commerce information seeking, familiarity with platform, and social presence. The models clarify mechanisms by which trust, familiarity, social presence and social commerce information seeking influence behavioral intentions on social commerce platforms. Results of the survey gathered among Facebook users indicates that trust of a SNS increases users' information seeking in informational channels, such as communities and forums, reviews and ratings, and recommendations and referrals. Information seeking elevates users' familiarity with the platform as well as the sense of social presence. Moreover, the familiarity and social presence raises users' purchases intentions. Results indicate that the main model of the study is a better explanatory mechanism than the alternative models. The theoretical and practical implications are discussed.

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Purpose This paper aims to investigate the impact of brand equity (BE) on stock performance (i.e. stock return, volatility and beta), and compare the performance of a high brand equity stocks (HBES) portfolio with that of the overall market during market downturn, market upturn and total disturbance periods of the COVID-19 pandemic in 2020. Design/methodology/approach Stock performance data and brand valuation estimates are obtained from various sources to assemble a portfolio of HBES and conduct the analyses. Econometric models are estimated to examine the impact of BE on stock performance and compare the HBES portfolio performance versus the overall market. Findings BE was positively associated with stock return and negatively associated with both types of risk (volatility and beta) during the COVID-19 pandemic. Specifically, during the market downturn period, BE was positively related to stock return and negatively related to stock volatility; during the market upturn period, BE was negatively associated with both types of risk; and during the total disturbance period, BE was positively associated with stock return and negatively associated with both types of risk. Finally, the HBES portfolio outperformed the market (S&P 500 index). Research limitations/implications The findings advance the extant research by providing evidence pertaining to brands' role in mitigating the impact of unpredictable market shocks and crises, such as the COVID-19 pandemic, on stock performance. While brands are mostly viewed as drivers of sustained competitive advantage and profitability, their protective role in crisis times is noteworthy. Practical implications The research findings potentially help marketing and brand managers to justify marketing spending and craft their strategies to enhance firm performance during crises similar to COVID-19. Originality/value The marketing–finance interface can benefit from insights offered by the COVID-19 pandemic, as such crises are becoming prevalent and are capable of damaging various stakeholders' outcomes (firms, investors and customers). The empirical examination is separately conducted on the market downturn, market upturn and total disturbance period attributable to the COVID-19 pandemic.