Abstract：Using the data of A-share non-financial listed companies from 2009 to 2018, this study empirically tested the influence of we-media marketing information disclosure on corporate performance of listed companies and its internal mechanism. Based on the “two-level communication theory” in communication studies, the study finds that the disclosure of we-media marketing information significantly improves the corporate performance, and the improvement effect is more significant when the number of weibo fans is large. Through subdividing industry types, it is found that, different from consumer-sensitive industries, the we-media marketing information of non-sensitive industries can become a beneficial supplement to traditional advertising due to the advantage of huge fans effects, so as to improve corporate performance more significantly.
黄宏斌,刘倩茹,熊慧银. 基于流量效应的上市公司自媒体营销信息披露对经营绩效的影响[J]. 管理学报, 2021, 18(2): 287-.
HUANG Hongbin,LIU Qianru,XIONG Huiyin. Research on the Impact of We-Media Marketing Information Disclosure of Listed Companies on Their Operating Performance Based on Fans Effect. Chinese Journal of Management, 2021, 18(2): 287-.
