Social media conflicts during the financial crisis: Managerial implications for retail banks

Abstract

Social media can be used proactively to disseminate accurate corporate information and address undesirable consumer behaviors online in order to help counteract negativity in the business environment in the wake of a financial crisis. Social media thus has become a popular open forum for financial institutions such as retail banks to engage in corporate dialogue with consumers. We recommend that financial services firms preemptively use their social media-based online communities in order to disseminate accurate corporate information in times of a financial crisis. Particularly, firms can choose between a range of reactive and proactive strategies to manage social conflict in the wake of a financial crisis. JEL classification code: M31.

Conflict in online consumption communities: a systematic literature review and directions for future research

“…Appendix B1: Representation of the 10 most recurrent words (with exact matches option) in the analysed articles Appendix B2: Representation of the 10 most recurrent words (with stemmed words option) in the analysed articles Appendix B3: Representation of the 10 co-occurring words (with exact matches option) as a horizontal dendrogram. (Matzat, 2009b), (Matzat, 2009a) Hierarchy 8 10% (Hauser et al, 2017), (Bullard & Howison, 2015), (Dineva et al, 2017), (Dolan et al, 2019), (Shi et al, 2019), ), (T. Cooper et al, 2019), (Dineva et al, 2019) Clan 34 43% (Colliander & Wien, 2013), (Bou-Franch & Garcés-Conejos Blitvich, 2014), (Tiidenberg, 2016), (Torres, 2017), (Närvänen et al, 2013), , (Gebauer et al, 2013), (Rosenbaum & Shachaf, 2010), , (Luedicke et al, 2017), (Mathwick et al, 2008), (Fuller et al, 2011), (Sibai et al, 2014), (Yen et al, 2011), (Coulson & Shaw, 2013), (Pai & Tsai, 2016), (Chalmers Thomas et al, 2012, (Burnett & Bonnici, 2003), , (Keeling et al, 2015), (De Almeida et al, 2014), (Graham, 2007), (Campbell et al, 2009), (Matzat & Rooks, 2014), (Herring et al, 2002), (Lee, 2005), (Närvänen et al, 2018), (Castle et al, 2014), (Essamri et al, 2019), …”

“…Eight studies (10%) investigated online consumption communities with hierarchy governance structure (e.g. Bullard and Howison, 2015; Dineva et al , 2019; Hauser et al , 2017; Shi et al , 2019), where formal house rules are clearly stated by a high-power agency, such as the community moderator or brand page manager. Moderator interventions and sanctions are examples of authority exercised by a high-power agency.…”

“…Hierarchy governance communities tend to rely on formal house rules stated by a higher-power agency to address conflicts. Although they were also found to develop their own social practices to tackle with internal conflicts such as an open-censorship strategy (Bullard and Howison, 2015; Dineva et al , 2017), and cooperative conflict management styles (Dineva et al , 2019; Hauser et al , 2017), people who hold power eventually have the authorization to establish and enforce both community rules and norms. Previous research agrees that when it comes to tackling conflicts that occur in the hierarchy governance community (e.g.…”

“…(3) N/A (Bullard and Howison, 2015;Tony et al, 2019;Castle et al, 2014) (4) UK (Dineva et al, 2017;Dineva et al, 2019;Essamri et al, 2019) (5) Austria (Hauser et al, 2017;Dolan et al, 2019) (6) China (Shi et al, 2019) (7) Syria (Halabi et al, 2017) (8) Cross-countries (USA and Germany) (Weitzl and Hutzinger, 2019) Clan (e.g. Consumer/self-organized online community such as airliners.net; careopinion.org.UK; patientslikeme.…”

“…Online conflicts have become a widely studied topic under the area of consumption communities (Husemann et al , 2015; Stokburger-Sauer and Wiertz, 2015). A number of such studies look into managing conflict in business or brand-organized communities (Dineva et al , 2019; Hakala et al , 2017; Luedicke et al , 2017), while others focus on consumer-organized communities (Coulson and Shaw, 2013; Graham, 2007; Matzat and Rooks, 2014; Sibai et al , 2014). Their attention lies on how conflicts could affect the community’s resources, and how to operate so that most benefits could be drawn from the survival of the online community (Dessart et al , 2015).…”