Analysis of the significance of eWOM on social media for companies[S1]
| dc.contributor.author | Prantl, David | |
| dc.contributor.author | Mičík, Michal | |
| dc.contributor.other | Ekonomická fakulta | cs |
| dc.date.accessioned | 2019-11-28T10:20:14Z | |
| dc.date.available | 2019-11-28T10:20:14Z | |
| dc.description.abstract | In recent years, social media have changed online communication. People share their views on individual companies as well as reviews of various products, and actively engage in discussions. Communication that spreads in this way is referred to as eWOM. The question is how important eWOM on social media can be for companies and what we can conclude based on eWOM. This research study aims to evaluate the significance of eWOM for companies in terms of the connection between eWOM and stock prices. Further, we explore the impact of eWOM on company website traffic. The research was conducted using a sample of 1,420,000 posts on social media sites mentioning companies that make up the components of the US30 stock market index. The results show that companies in the B2C segment with a higher share of positive posts compared to negative ones have seen a greater increase in stock prices. However, posts on social media mentioning companies in the B2B segment are not connected to the movement of stock prices of these companies. The research also revealed that 3 % of the total traffic on companies’ websites comes from social media sites. Based on the findings of the research, we can consider eWOM to be of major significance for companies in the B2C segment. These conclusions can be useful in predicting stock prices of particular companies on stock markets based on eWOM. | en |
| dc.format | text | |
| dc.identifier.doi | 10.15240/tul/001/2019-4-012 | |
| dc.identifier.eissn | 2336-5604 | |
| dc.identifier.issn | 1212-3609 | |
| dc.identifier.uri | https://dspace.tul.cz/handle/15240/154271 | |
| dc.language.iso | en | |
| dc.publisher | Technická Univerzita v Liberci | cs |
| dc.publisher | Technical university of Liberec, Czech Republic | en |
| dc.publisher.abbreviation | TUL | |
| dc.relation.isbasedon | Brown, J., Broderick, A. J., & Lee, N. (2007). Word of mouth communication within online communities: Conceptualizing the online social network. Journal of Interactive Marketing, 21, 2-20. https://doi.org/10.1002/dir.20082. | |
| dc.relation.isbasedon | Carl, W. J. (2006). Whats All The Buzz about?: Everyday Communication and the Relational Basis of Word-of-Mouth and Buzz Marketing Practices. Management Communication Quarterly, 19, 601-634. https://doi.org/10.1177/0893318905284763. | |
| dc.relation.isbasedon | Colquitt, J. A., Scott, B. A., & LePine, J. A. (2007). Trust, trustworthiness, and trust propensity: a meta-analytic test of their unique relationships with risk taking and job performance. Journal of applied psychology, 92(4), 909-927. | |
| dc.relation.isbasedon | Coombs, A. (2017). Understanding Sentiment Analysis in Social Media Monitoring. Retrieved May 12, 2019, from https://unamo.com/blog/social/sentiment-analysis-social-media-monitoring. | |
| dc.relation.isbasedon | Daugherty, T., & Hoffman, E. (2014). eWOM and the importance of capturing consumer attention within social media. Journal of Marketing Communications, 20, 82-102. https://doi.org/10.1080/13527266.2013.797764. | |
| dc.relation.isbasedon | Duan, W., Gu, B., & Whinston, A. B. (2008). The dynamics of online word-of-mouth and product sales – An empirical investigation of the movie industry. Journal of Retailing, 84, 233-242. https://doi.org/10.1016/j.jretai.2008.04.005. | |
| dc.relation.isbasedon | Eger, L., Mičík, M., & Řehoř, P. (2018). Employer branding on social media and recruitment websites: Symbolic traits of an ideal employer. E&M Ekonomie a Management, 21(1), 224-237. https://dx.doi.org/10.15240/tul/001/2018-1-015. | |
| dc.relation.isbasedon | Fishkin, R. (2015). The Traffic Prediction Accuracy of 12 Metrics from Compete, Alexa, SimilarWeb, & More. Retrieved May 12, 2019, from https://sparktoro.com/blog/traffic-prediction-accuracy-12-metrics-compete-alexa-similarweb/. | |
| dc.relation.isbasedon | Geurin, A. N., & Burch, L. M. (2017). User-generated branding via social media: An examination of six running brands. Sport Management Review, 20, 273-284. https://doi.org/10.1016/j.smr.2016.09.001. | |
| dc.relation.isbasedon | Godey, B., Manthiou, A., Pederzoli, D., Rokka, J., Aiello, G., Donvito, R., & Singh, R. (2016). Social media marketing efforts of luxury brands: Influence on brand equity and consumer behavior. Journal of Business Research, 69, 5833-5841. https://doi.org/10.1016/j.jbusres.2016.04.181. | |
| dc.relation.isbasedon | Grizane, T., & Jurgelane, I. (2017). Social Media Impact on Business Evaluation. Procedia Computer Science, 104, 190-196. https://doi.org/10.1016/j.procs.2017.01.103. | |
| dc.relation.isbasedon | Huete-Alcocer, N. (2017). A Literature Review of Word of Mouth and Electronic Word of Mouth: Implications for Consumer Behavior. Frontiers in Psychology, 8, 1256. https://doi.org/10.3389/fpsyg.2017.01256. | |
| dc.relation.isbasedon | Hughes, M. (2005). Buzzmarketing: Get People to Talk About Your Stuff. London: Penguin Publishing Group. | |
| dc.relation.isbasedon | Hussain, S., Ahmed, W., Jafar, R. M., Rabnawaz, A., & Jianzhou, Y. (2017). eWOM source credibility, perceived risk and food product customers information adoption. Computers in Human Behavior, 66, 96-102. https://doi.org/10.1016/j.chb.2016.09.034. | |
| dc.relation.isbasedon | Charoensukmongkol, P., & Sasatanun, P. (2017). Social media use for CRM and business performance satisfaction: The moderating roles of social skills and social media sales intensity. Asia Pacific Management Review, 22, 25-34. https://doi.org/10.1016/j.apmrv.2016.10.005. | |
| dc.relation.isbasedon | Choi, B., & Lee, I. (2017). Trust in open versus closed social media: The relative influence of user- and marketer-generated content in social network services on customer trust. Telematics and Informatics, 34, 550-559. https://doi.org/10.1016/j.tele.2016.11.005. | |
| dc.relation.isbasedon | Kaushik, B., Hemani, H., & Ilavarasan, P. V. (2017). Social media usage vs. stock prices: an analysis of Indian firms. Procedia Computer Science, 122, 323-330. https://doi.org/10.1016/j.procs.2017.11.376. | |
| dc.relation.isbasedon | Kim, S., Koh, Y., Cha, J., & Lee, S. (2015). Effects of social media on firm value for U.S. restaurant companies. International Journal of Hospitality Management, 49, 40-46. https://doi.org/10.1016/j.ijhm.2015.05.006. | |
| dc.relation.isbasedon | Kotler, P., & Keller, K. L. (2013). Marketing management. Prague: Grada. | |
| dc.relation.isbasedon | Lee, M., & Youn, S. (2009). Electronic word of mouth (eWOM). International Journal of Advertising, 28, 473-499. https://doi.org/10.2501/S0265048709200709. | |
| dc.relation.isbasedon | Li, B., Chan, K. C., Ou, C., & Ruifeng, S. (2017). Discovering public sentiment in social media for predicting stock movement of publicly listed companies. Information Systems, 69, 81-92. https://doi.org/10.1016/j.is.2016.10.001. | |
| dc.relation.isbasedon | Litvin, S. W., Goldsmith, R. E., & Pan, B. (2008). Electronic word-of-mouth in hospitality and tourism management. Tourism Management, 29, 458-468. https://doi.org/10.1016/j.tourman.2007.05.011. | |
| dc.relation.isbasedon | Marine-Roig, E., & Clavé, S. A. (2015). Tourism analytics with massive user-generated content: A case study of Barcelona. Journal of Destination Marketing & Management, 4, 162-172. https://doi.org/10.1016/j.jdmm.2015.06.004. | |
| dc.relation.isbasedon | Mayer, R. C., Davis, J. H., & Schoorman, F. D. (1995). An Integrative Model of Organizational Trust. The Academy of Management Review, 20(3), 709-734. | |
| dc.relation.isbasedon | Nascimento, A. M., & da Silveira, D. S. (2017). A systematic mapping study on using social media for business process improvement. Computers in Human Behavior, 73, 670-675. https://doi.org/10.1016/j.chb.2016.10.016. | |
| dc.relation.isbasedon | Nguyen, T. H., Shirai, K., & Velcin, J. (2015). Sentiment analysis on social media for stock movement prediction. Expert Systems with Applications, 42, 9603-9611. https://doi.org/10.1016/j.eswa.2015.07.052. | |
| dc.relation.isbasedon | Nieto, J., Hernández-Maestro, R. M., & Mu?oz-Gallego, P. A. (2014). Marketing decisions, customer reviews, and business performance: The use of the Toprural website by Spanish rural lodging establishments. Tourism Management, 45, 115-123. https://doi.org/10.1016/j.tourman.2014.03.009. | |
| dc.relation.isbasedon | Oliveira, N., Cortez, P., & Areal, N. (2017). The impact of microblogging data for stock market prediction: Using Twitter to predict returns, volatility, trading volume and survey sentiment indices. Expert Systems with Applications, 73, 125-144. https://doi.org/10.1016/j.eswa.2016.12.036. | |
| dc.relation.isbasedon | Ruan, Y., Durresi, A., & Alfantoukh, L. (2018). Using Twitter trust network for stock market analysis. Knowledge-Based Systems, 145, 207-218. https://doi.org/10.1016/j.knosys.2018.01.016. | |
| dc.relation.isbasedon | Sedlačík, M., Neubauer, J., & Kříž, O. (2016). Základy statistiky: Aplikace v technických a ekonomických oborech - 2. vydání. Prague: Grada. | |
| dc.relation.isbasedon | SimilarWeb. (2017). How Does SimilarWeb Work? Retrieved May 12, 2019, from https://www.similarweb.com/ourdata. | |
| dc.relation.isbasedon | SPIndices.com. (2018). Our Company – S&P Dow Jones Indices. Retrieved May 12, 2019, from https://www.spindices.com/our-company/our-history/. | |
| dc.relation.isbasedon | Tajvidi, R., & Karami, A. (2017). The effect of social media on firm performance. Computers in Human Behavior. Article in Press. https://doi.org/10.1016/j.chb.2017.09.026. | |
| dc.relation.isbasedon | Unamo.com. (2018). Unamo: Tools for Marketers. Retrieved May 12, 2019, from https://unamo.com. | |
| dc.relation.isbasedon | Vendemia, M. A. (2017). When do consumers buy the company? Perceptions of interactivity in company-consumer interactions on social networking sites. Computers in Human Behavior, 71, 99-109. https://doi.org/10.1016/j.chb.2017.01.046. | |
| dc.relation.isbasedon | Wang, T., Yeh, R. K.-J., Chen, C., & Tsydypov, Z. (2016). What drives electronic word-of-mouth on social networking sites? Perspectives of social capital and self-determination. Telematics and Informatics, 33, 1034-1047. https://doi.org/10.1016/j.tele.2016.03.005. | |
| dc.relation.isbasedon | Wilson, S. (2010). Social Media and Small Business Marketing. Raleigh, NC: Lulu Enterprises Incorporated. | |
| dc.relation.isbasedon | Yadav, M., & Rahman, Z. (2017). Measuring consumer perception of social media marketing activities in e-commerce industry: Scale development & validation. Telematics and Informatics, 34, 1294-1307. https://doi.org/10.1016/j.tele.2017.06.001. | |
| dc.relation.isbasedon | Yang, F. X. (2017). Effects of Restaurant Satisfaction and Knowledge Sharing Motivation on eWOM Intentions: The Moderating Role of Technology Acceptance Factors. Journal of Hospitality & Tourism Research, 41, 93-127. https://doi.org/10.1177/1096348013515918. | |
| dc.relation.ispartof | Ekonomie a Management | cs |
| dc.relation.ispartof | Economics and Management | en |
| dc.relation.isrefereed | true | |
| dc.rights | CC BY-NC | |
| dc.subject | eWOM | en |
| dc.subject | stocks | en |
| dc.subject | sentiment | en |
| dc.subject | social media | en |
| dc.subject.classification | M31 | |
| dc.title | Analysis of the significance of eWOM on social media for companies[S1] | en |
| dc.type | Article | en |
| local.access | open | |
| local.citation.epage | 194 | |
| local.citation.spage | 182 | |
| local.faculty | Faculty of Economics | |
| local.filename | EM_4_2019_12 | |
| local.fulltext | yes | |
| local.relation.abbreviation | E+M | cs |
| local.relation.abbreviation | E&M | en |
| local.relation.issue | 4 | |
| local.relation.volume | 22 |
Files
Original bundle
1 - 1 of 1
Loading...
- Name:
- EM_4_2019_12.pdf
- Size:
- 958.35 KB
- Format:
- Adobe Portable Document Format
- Description:
- článek