Determinants of Social Media Sustainability Reporting: Evidence from Twitter
Keywords:
Social Media Sustainability Reporting, Twitter, Sustainability Disclosure, Panel Data Analysis, Technological Capability, Emerging Economies, Corporate SustainabilityAbstract
Purpose: This study explores the sustainability reporting determinants of the Social Media Sustainability Reporting (SMSR) on Twitter, and how institutional pressures, firm-specific characteristics and organizational capabilities affect sustainability communication through digital platforms. With the growing usage of social media as the complement to the existing sustainability reporting, the motivation of such disclosure becomes the critical issue of both theory and practice. Methodology: The study uses the panel data regression methods using a balanced panel dataset (89 non-financial firms) during the period of 2019-2023 (445 firm-years observations). Estimates of ordinary least squares (OLS), fixed effects (FE), and random effects (RE) models are done and the Hausman specification test is applied to determine the best estimator. Sustainability reporting based on twitter is operationalized as dependent variable, whereas the governance, technological, institutional and contextual factors are explanatory variables.
Findings: The findings show that the positive and significant influence on sustainability reporting on Twitter platforms has been observed in regards to technological capability and sustainability-related awards, which introduces the concept of digital preparedness and external reward in defining disclosure behavior. Environmental sensitivity and media visibility, conversely, are negatively related, implying that companies with increased scrutiny might be more conservative in their disclosure methods on social media platforms open to the public. The continuity of previous Twitter use further supports the entrenched quality of digital sustainability communication when implemented.
Implications: The results endorse the legitimacy and institutional point of view by showing that SMSR is a strategic practice and not just a choice that is merely symbolic. In practice, the research provides information to managers, policymakers, and regulators who would want to encourage viable and commendable sustainability communication via social media.
Originality/Value: Offering evidence at the firm-level, in paneling form, within an emerging market, this study augments to the literature regarding digital sustainability reporting and offers insight into Twitter as a strategic disclosure website.
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