Impact of CEO media appearance on corporate performance in social media

摘要

The impact of CEOs' media appearance in social media on corporate performance (financial performance) has received little research attention. In this paper, we propose the CEO media appearance indexes, namely CEO media coverage, CEO media transmission, and CEO media sentiment, and CEO searching attention indexes, namely media searching attention and user searching attention, then analyze the influence of CEO media appearance and CEO searching attention on corporate performance. The results show that the media transmission and media searching attention indexes have significant positive effects on corporate performance. The media sentiment and user searching attention indexes have significant negative effects on corporate performance; however, the same effect was not observed for media coverage. The effects of the above indexes were consistent with the interaction analyses. We discuss theoretical implications for research on CEO and corporate performance and management implications for corporate social media marketing.