Pablo Gómez Carrasco is an assistant lecturer in the Department of Accounting at the Universidad Autónoma de Madrid. He obtained the Outstanding Graduate Award in the Bachelor of Business Administration and MSc Degree with distinction in Accounting, Audit and Finance. Pablo’s research is markedly influenced by his social concerns and focuses on the field of Corporate Social Responsibility, seeking innovative ways to measure the social performance of companies to further study its relationship with financial performance.
Stakeholder (Dis)Engagement in Social Media:
The Case of Twitter and the Spanish Banking Industry
Analyzing the content of over a million microblogs on Twitter associated with the Spanish banking sector, this paper provides novel exploratory and descriptive evidence of how companies and stakeholders engage in social media communication. We focus on key issues considered by banking institutions in their CSR reports, which we classify into Core or Supplementary CSR regarding their connection or disconnection with the core business activities of banking firms. We present descriptive evidence showing that CSR is a relevant issue in social media. Empirical analysis demonstrates that companies fail to align their communication strategy with the interests of the external stakeholders. Outsiders essentially communicate Core CSR information, whilst Supplementary CSR information is mainly referred to by insiders, consistent with legitimacy attempts. Finally, we provide evidence of the determinants of CSR information communication in social media and conclude that this type of information is linked to a high visibility of companies, which is consistent with prior literatura.