Web-Based Financial Reporting: An Interpretative Model for Corporate Communications on Social Media

Titolo Rivista FINANCIAL REPORTING
Autori/Curatori Paola Ramassa, Costanza Di Fabio
Anno di pubblicazione 2017 Fascicolo 2016/2
Lingua Inglese Numero pagine 34 P. 79-112 Dimensione file 367 KB
DOI 10.3280/FR2016-002004
Il DOI è il codice a barre della proprietà intellettuale: per saperne di più clicca qui

Qui sotto puoi vedere in anteprima la prima pagina di questo articolo.

Se questo articolo ti interessa, lo puoi acquistare (e scaricare in formato pdf) seguendo le facili indicazioni per acquistare il download credit. Acquista Download Credits per scaricare questo Articolo in formato PDF

Anteprima articolo

FrancoAngeli è membro della Publishers International Linking Association, Inc (PILA)associazione indipendente e non profit per facilitare (attraverso i servizi tecnologici implementati da CrossRef.org) l’accesso degli studiosi ai contenuti digitali nelle pubblicazioni professionali e scientifiche

This paper aims at contributing to financial reporting literature by proposing a conceptual interpretative model to analyse the corporate use of social media for financial communication purposes. In this perspective, the FIRE model provides a framework to study social media shifting the focus on the distinctive features that might enhance web investor relations. The model highlights these features through four building blocks: (i) firm identity (F); (ii) information posting (I); (iii) reputation (R); and (iv) exchange and diffusion (E). They represent key aspects to explore corporate communication activities and might offer a framework to interpret to what degree corporate web financial reporting exploits the potential of social media. Accordingly, the paper proposes metrics based on this model aimed at capturing the interactivity of corporate communications via social media, with a particular focus on web financial reporting. It tries to show the potential of this model by illustrating an exploratory empirical analysis investigating to what extent companies use social media for financial reporting purposes and whether firms are taking advantage of Twitter distinctive features of interaction and diffusion.

Keywords:Investor relations, web financial reporting, social media, Twitter.

  1. Allam A., Lymer A. (2003), Developments in Internet financial reporting: review and analysis across five developed countries, International Journal of Digital Accounting Research, 3 (6), pp. 165-199,
  2. Ashbaugh H., Johnstone K.M., Warfield T.D. (1999), Corporate reporting on the Internet, Accounting Horizons, 13 (3), pp. 241-257, DOI: 10.1108/JCOM-08-2012-0068
  3. Avallone F., Veneziani M. (2002), Voluntary Disclosure for Stakeholders by Means of Interactive Business Models, paper presented at 25th annual congress of the European Accounting Association (EAA), Copenhagen, April.
  4. Baldwin A.A., Williams S.M.L. (1999), The future of intelligent Internet agents in European financial reporting, European Accounting Review, 8 (2), pp. 303-319, DOI: 10.1080/096381899336050
  5. Balmer J.M., Greyser S.A. (2006), Corporate marketing: Integrating corporate identity, corporate branding, corporate communications, corporate image and corporate reputation, European Journal of Marketing, 40 (7/8), pp. 730-741, DOI: 10.1108/03090560610669964
  6. Beattie V., McInnes W., Fearnley S. (2004), A methodology for analysing and evaluating narratives in annual reports: A comprehensive descriptive profile and metrics for disclosure quality attributes, Accounting Forum, 28 (3), pp. 205-236,
  7. Beattie V., Thomson S.J. (2007), Lifting the Lid on the Use of Content Analysis to Investigate Intellectual Capital Disclosures, Accounting Forum, 31 (2), pp. 129-163,
  8. Blankespoor E., Miller B.P., White H.D. (2014), The Role of Dissemination in Market Liquidity: Evidence from Firms’ Use of TwitterTM, The Accounting Review, 89 (1), pp. 79-112.
  9. Bollen L., Hassink H., Bozic G. (2006), Measuring and explaining the quality of Internet investor relation activities: a multinational empirical analysis, International Journal of Accounting Information Systems, 7 (4), pp. 273-298,
  10. Bonson E., Escobar T. (2002), A Survey on Voluntary Disclosure on the Internet. Empirical Evidence from 300 European Union Companies, International Journal of Digital Accounting Research, 2 (1), pp. 27-51,
  11. Bonson E., Escobar T. (2006), Digital reporting in Eastern Europe: an empirical study, International Journal of Accounting Information Systems, 7 (4), pp. 299-318,
  12. Brennan N., Kelly S. (2000), Use of the Internet by Irish companies for investor relations purposes, Irish Business and Administrative Research, 21 (2), pp. 107-135.
  13. Cerbioni F., Menini A. (2011), Il ruolo dei competitor nell’orientamento delle politiche di comunicazione economico, Financial Reporting, 2, pp. 95-123, DOI: 10.3280/FR2011-002005
  14. Cornelissen J. (2014), Corporate communication: A guide to theory and practice, 4th edition. (Thousand Oaks: Sage).
  15. Craven B.M., Marston C. (1999), Financial reporting on the Internet by leading UK companies, European Accounting Review, 8 (2), pp. 321-333, DOI: 10.1080/096381899336069
  16. Debreceny R., Gray G.L. (1999), Financial reporting on the Internet and the external audit, European Accounting Review, 8 (2), pp. 335-350, DOI: 10.1080/096381899336078
  17. Debreceny R., Gray G.L., Rahman A. (2002), The determinants of Internet financial reporting, Journal of Accounting and Public Policy, 21 (4/5), pp. 371-394, DOI: 10.1016/S0278-4254(02)00067-4
  18. Deller D., Stubenrath M., Weber C., Goethe J.M. (1999), A survey on the use of Internet for investor relations in the USA, the UK and Germany, European Accounting Review, 8 (2), pp. 351-364, DOI: 10.1080/096381899336087.
  19. Eschenbrenner B., Nah F.F., Telaprolu V.R. (2015), Efficacy of Social Media Utilization by Public Accounting Firms: Findings and Directions for Future Research, Journal of Information Systems, 29 (2), pp. 5-21.
  20. Ettredge M., Richardson V.J., Scholz S. (2001), The presentation of financial information at corporate web sites, International Journal of Accounting Information Systems, 2 (3), pp. 149-168, DOI: 10.1016/S1467-0895(00)00017-8
  21. Ettredge M., Richardson V.J., Scholz S. (2002), Dissemination of information for investors at corporate web sites, Journal of Accounting and Public Policy, 21 (4/5), pp. 357-369, DOI: 10.1016/S0278-4254(02)00066-2
  22. Fisher R., Oyelere P., Laswad F. (2004), Corporate reporting on the Internet: Audit issues and content analysis of practices, Managerial Auditing Journal, 19 (3), pp. 412-439, DOI: 10.1108/02686900410524418
  23. FTI Consulting (2016), A Social Divide in the City - 2016 Edition. The cat is out of the bag on a new divide. Annual FTSE 100 Social Media Performance Index, available at www.fticonsulting.com.
  24. FTI Consulting (2015), A Social Divide in the City - 2015 Edition. The cat is out of the bag on a new divide. Annual FTSE 100 Social Media Performance Index, available at www.fticonsulting.com.
  25. Garcia-Borbolla A., Larran M., Lopez R. (2005), Empirical evidence concerning smes corporate websites: explaining factors, strategies and reporting, International Journal of Digital Accounting Research, 5 (10), pp. 171-202,
  26. Gowthorpe C. (2004), Asymmetric dialogue: Corporate financial reporting via the Internet, Corporate Communications: An International Journal, 9 (4), pp. 283-293, DOI: 10.1108/13563280410564020
  27. Gowthorpe C., Amat O. (1999), External reporting of accounting and financial information via the Internet in Spain, European Accounting Review, 8 (2), pp. 365-371, DOI: 10.1080/096381899336096
  28. Gray R.H., Kouchy R., Lavers S. (1995), Constructing a research database of social and environmental reporting by UK companies, Accounting, Auditing & Accountability Journal, 8 (2), pp. 78‐101, DOI: 10.1108/09513579510086812
  29. Hanna R., Rohm A., Crittenden V.L. (2011), We are all connected: The power of the social media ecosystem, Business Horizons, 54 (3), pp. 265-273,
  30. Havelock L. (2016), Earnings tweets becoming ‘more effective’, finds study, IR magazine, 12 February 2016.
  31. Hedlin P. (1999), The Internet as a vehicle for investor relations: The Swedish case, European Accounting Review, 8 (2), pp. 373-381, DOI: 10.1080/096381899336104
  32. Hooghiemstra R. (2000), Corporate communication and impression management – New perspectives why companies engage in corporate social reporting, Journal of Business Ethics, 27(1/2), pp. 55-68, DOI: 10.1023/A:1006400707757
  33. Investis (2015), Social media for corporate communications - A review of corporate social media use in the US and the UK, available at www.investis.com.
  34. IR Society (2013), Best practice guidelines. Using social media in an IR context, available at www.irs.org.uk.
  35. Jung M.J., Naughton J.P., Tahoun A., Wang C. (2016), Corporate Use of Social Media, available at SSRN 2588081.
  36. Kaplan A. and Haenlein M. (2010), Users of the world, unite! The challenges and opportunities of social media, Business Horizons, 53 (1), pp. 59-68,
  37. Kaplan A., Haenlein M. (2014), Collaborative projects (social media application): About Wikipedia, the free encyclopedia, Business Horizons, 57 (5), pp. 617-626;
  38. Kietzman J.H., Hermkens K., McCarthy I.P., Silvestre B.S. (2011), Social media? Get serious! Understanding the functional building blocks of social media, Business Horizons, 54 (3), pp. 241-251,
  39. Krippendorff K. (2004), Content Analysis: An Introduction to Its Methodology, 2nd edition (Thousand Oaks: Sage).
  40. Larran M., Giner B. (2002), The use of Internet for corporate reporting by Spanish companies, International Journal of Digital Accounting Research, 2 (1), pp. 53-82,
  41. Linke A., Zerfass A. (2013), Social media governance: regulatory frameworks for successful online communications, Journal of Communication Management, 17 (3), pp. 270-286, DOI: 10.1108/JCOM-09-2011-0050
  42. Lybaert N. (2003), On-line financial reporting – An analysis of the Dutch listed firms, International Journal of Digital Accounting Research, 2 (4), pp. 195-234,
  43. Lymer A. (1999), The Internet and the future of corporate reporting in Europe, European Accounting Review, 8 (2), pp. 289-301, DOI: 10.1080/096381899336041
  44. Lymer A., Debreceny R. (2003), The auditor and corporate reporting on the Internet: challenges and institutional responses, International Journal of Auditing, 7 (2), pp. 103-120, DOI: 10.1111/1099-1123.00063
  45. Lymer A., Tallberg A. (1997, April). Corporate Reporting and the Internet-a survey and commentary on the use of the WWW in corporate reporting in the UK and Finland. In 20th Annual Congress of the European Accounting Association, Graz, Austria (pp. 101-110).
  46. Marston C. (2003), Financial reporting on the Internet by leading Japanese companies, Corporate Communications: An International Journal, 8 (1), pp. 23-34, DOI: 10.1108/13563280310458894
  47. Marston C., Polei A. (2004), Corporate reporting on the Internet by German companies, International Journal of Accounting Information Systems, 5 (3), pp. 285-311,
  48. Miller G.S., Skinner D.J. (2015), The Evolving Disclosure Landscape: How Changes in Technology, the Media, and Capital Markets Are Affecting Disclosure, Journal of Accounting Research, 53 (2), pp. 221-239.
  49. Ngai E.W.T, Moon K.K., Lam S.S., Chin E.S.K., Tao S.S.C. (2015), Social media models, technologies and applications: an academic review and case study, Industrial Management & Data Systems, 115 (5), pp. 1-36, DOI: 10.1108/IMDS-03-2015-0075
  50. Panahi S., Watson J., Partridge H. (2013), Towards tacit knowledge sharing over social web tools, Journal of Knowledge Management, 17 (3), pp. 379-397, DOI: 10.1108/JKM-11-2012-0364
  51. Perrin A. (2015), Social media usage 2005-2015, Pew Research Center, available at www.pewinternet.org.
  52. Pirchegger B., Wagenhofer A. (1999), Financial Information on the Internet: a survey of the homepages of Austrian companies, European Accounting Review, 8 (2), pp. 383-395, DOI: 10.1080/096381899336113
  53. Prokofieva M. (2014), Twitter-based dissemination of corporate disclosure and the intervening effects of firms’ visibility: evidence from Australian listed companies, Journal of Information Systems, 29 (2), pp. 107-136.
  54. Quagli A. (2001), Internet e la comunicazione finanziaria (Milan: FrancoAngeli).
  55. Ramassa P. (2011), Case Study Method in Financial Communication Studies: A Review and a Systemic Approach Proposal, Financial Reporting, 2, pp. 63-93, DOI: 10.3280/FR2011-002004
  56. Roach G. (2015), Are IROs unfollowing social media?, IR Magazine, 26 November 2015.
  57. Robb S.W.G., Single L.E., Zarzeski M.T. (2001), Nonfinancial disclosures across Anglo-American countries, Journal of International Accounting, Auditing, and Taxation, 10 (1), pp. 71-83, DOI: 10.1016/S1061-9518(01)00036-2
  58. Saxton G.D. (2012), New Media and External Accounting Information: A Critical Review, Australian Accounting Review, 22 (3), pp. 286-302,
  59. Smith B., Pierce (2005), An investigation of the integrity of Internet financial reporting, International Journal of Digital Accounting Research, 5 (9), pp. 47-78,
  60. Smith M., Taffler R.J. (2000), The chairman’s statement: A content analysis of discretionary narrative disclosures, Accounting Auditing and Accountability Journal, 13 (5), pp. 624-646, DOI: 10.1108/09513570010353738
  61. Suddaby R., Saxton G.D., Gunz S. (2015), Twittering change: The institutional work of domain change in accounting expertise, Accounting, Organizations and Society, 45, pp. 52-68,
  62. Sydserff R., Weetman P. (1999), A texture index for evaluating accounting narratives: An alternative to readability formulas, Accounting, Auditing and Accountability Journal, 12 (4), pp. 459-488, DOI: 10.1108/09513579910283503
  63. Van Riel C.B., Fombrun C.J. (2007), Essentials of corporate communication: Implementing practices for effective reputation management, 1st edition (New York: Routledge).
  64. Vidgen R., Sims J.M., Powell P. (2013), Do CEO bloggers build community?, Journal of Communication Management, 17 (4), pp. 364-385, DOI: 10.1108/JCOM-08-2012-0068

Paola Ramassa, Costanza Di Fabio, Web-Based Financial Reporting: An Interpretative Model for Corporate Communications on Social Media in "FINANCIAL REPORTING" 2/2016, pp 79-112, DOI: 10.3280/FR2016-002004