From self‐entertainment to being appreciated: how does social media transfer talent to business?

Abstract

This study investigates the influence of social media information disclosure on crowdfunding rates. Using a sample of 1,844 projects from a music crowdfunding platform in China, we find that fundraisers who disclosed their social media accounts contributed to a greater funding rate. Social media account disclosure appears to be more significant for projects created by individuals and accompanied by videos and more images, as well as negative descriptions. Furthermore, the disclosure of social media presence information can improve the funding rate by enabling digital reputations and breaking geographical restrictions. Robust tests and 2SLS estimations support our conclusion.

Understanding Crowdfunding via Social Media: A Review of the Relevancy of Previous Studies

“…Wolfe et al (2021) examine how specific temporal elements of social media activity, such as loudness and unpredictability in Twitter messages, influence crowdfunding campaign success. Chen et al (2021) study the influence of social media information disclosure on crowdfunding rates, focusing on a music crowdfunding platform in China. Nisar et al (2022) investigate the factors driving sharing and donating in viral crowdfunding campaigns using social media, with insights drawn from the ALS ice bucket challenge.…”

Social media information dissemination and corporate bad news hoarding

“…Blankespoor et al (2014) and Guindy (2021) find that Twitter increases stock liquidity and reduces firms' cost of equity by helping them disseminate information. Chen et al (2021b) find that the disclosure of information in social media can improve the firms' financing by improving their reputation and breaking the regional restrictions. In China, the Internet-based social media Guba has become an effective channel for retail investors to gather and exchange information in the capital market.…”

“…Chen et al . (2021b) find that the disclosure of information in social media can improve the firms’ financing by improving their reputation and breaking the regional restrictions. In China, the Internet‐based social media Guba has become an effective channel for retail investors to gather and exchange information in the capital market.…”

Employer ratings in social media and firm performance: Evidence from an explainable machine learning approach

“…Kununu is a recruitment website akin to https://www.glassdoor.com/, whose data have recently been used in research (e.g., Green et al, 2019; Hales et al, 2018; Huang et al, 2015, 2020). Social media provides academics with a new fruitful source of information to be exploited in applied research (e.g., Chen et al, 2021; Li et al, 2022; Marty et al, 2020; Nie & Jia, 2021). Social media can be seen as a two‐way channel where the information flow from social media to companies has profound effects on company practices (Li et al, 2022; Nie & Jia, 2021) and, on the other hand, the flow of information from companies to social media reveals interesting knowledge of the inner workings of corporations previously hidden from outside researchers (Au et al, 2021; Green et al, 2019; Marty et al, 2020).…”