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​Messaging without a Message: Executive Value and Social Media Activity

Date/Time: 21-Nov-2018 - 21-Dec-2018 1330hrs - 1500hrs
Venue: Executive Seminar Room 5 (S3.1-B1-07)
Contact Information:

​Date: Wednesday, 21 November 2018
Time: 1.30 pm to 3.00 pm
Venue: Executive Seminar Room 5 (S3.1-B1-07)

Chairperson: Asst Professor Zheng LEITTER

We show that executives who start tweeting benefit from better career options. We motivate this finding using the well-established theories of limited attention and social contagion. Consistent with this framework, we find that content is irrelevant. Comparative statics are consistent with our theories. In particular, the effect of Twitter is concentrated among executives who were unrecognized and who were underpaid before they started tweeting, who garner greater public attention from their social media activity, who enjoy higher professional mobility, and who operate in environments where compensation setting is less structured. We show that tweeting is not a panacea for executive compensation and that the decision to tweet is not driven by the expectation of promotion. In contrast to claims by consultants, we also show that executive personal activities on social media such as Twitter do not affect firm value.
About the Speaker
Rencheng Wang is an Associate Professor at the University of Melbourne. He received his PhD from Hong Kong University of Science and Technology and worked at University of Queensland from 2013 to 2017. He has a broad range of interests in research at the intersection of accounting and finance. His works have been published in the Journal of Accounting Research, Journal of Accounting and Economics, and The Accounting Review. His research has been featured in Harvard Law School Bankruptcy Roundtable, Oxford Business Law Blog, and many other media sources.
For further information and enquiries, please contact Adeline Tang at

Published on: 15-Nov-2018

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