How does change in CEOs' strategic orientations in their social media communication impact firm performance during crisis? A longitudinal study
研究了财富1000强CEO在危机前后通过Twitter进行可持续发展沟通时，其战略导向（SDG、创业、领导风格）的变化如何影响利益相关者参与、CEO社交媒体声誉及企业财务绩效。
The social media (SM) presence of the CEOs and their sustainability-related communication plays a major role in handling business communication and shaping firm strategic outcomes during a crisis. In turbulent times of crisis, stakeholders seek credible information for their better decision-making towards firms. Therefore, it becomes essential for the CEOs to engage with the stakeholders and manage firm value strategically. This empirical study utilizes the Twitter posts of Fortune 1000 CEOs for their sustainability communication through their different orientations i.e., SDG, entrepreneurial, and leadership styles. The study employs mixed research methodology through a longitudinal event study to determine the change in the CEOs' strategic orientations, its influence on the CEOs' SM reputation, and firm performance before and during the crisis. Findings showcase that the change in CEOs' strategic orientation in their sustainability-related disclosures positively influences stakeholder engagement and the CEOs' SM reputation during a crisis. Also, the strategic orientations of the CEOs and their SM reputation as a resource provide competitive advantages to the firms for their enhanced firm financial performance. Our study contributes to both research and practice of using SM strategically for their sustainability communication to achieve improved firm performance during a crisis. • Social media usage by CEOs for better engagement with stakeholders. • Investigation of CEOs' strategic SDG communication in the context of COVID-19. • Change in CEOs’ orientations (SDG, entrepreneurial, and leadership style) as a recovery mechanism for COVID-19 pandemic crisis. • Change in CEOs' orientations affects their social media reputation with the outbreak of the pandemic. • Social media reputation impacts the firm financial performance with the outbreak of pandemic.