The Public Crisis Sentiment Management Of Listed Company:a Empirical Analysis Of Micro-blog’s Effect

The advent of the Internet brings great changes to the information dissemination. The information especially the bad news is easily and rapidly propagated on the Internet. The public crisis sentiment will have a huge impact on the reputation of a company and furthermore will threat its the survival and development.The important things that a company must consider to deal with those crises are how to respond, what strategies to use, and in what ways to send the response information. On the contrary, however, the existing empirical studies on the transmission mode of response information to crisis public sentiment are quite inadequate, which leads to the lack of effective direction for actual behaviors.Based on the analysis of the characteristics and advantages of the information dissemination of micro-blog, and by referencing the former researches, we believes that the use of micro-blog can effectively improve the result of public crisis sentiment management. Taking the public crisis sentiment events of A-share listed companies from September,2011to April,2013as samples, the paper analyzes the effects of micro-blog in public crisis sentiment management based on two measures, which are the sentiment and numbers of micro-blog. The empirical result shows that the use of micro-blog can effectively improve the effects of public crisis sentiment management. After reviewing the sub-samples, however, we find that the effect of micro-blog is not better than the announcement, but is significantly better than the media interview. Then we compare the number of micro-blogs before and after the time of company’s public crisis sentiment responses with other different response information transmission modes. We find the micro-blog is no better than the announcement on information transmission capacity, but on that is significantly better than the media interview. The result shows that the difference on the information dissemination capacity of different information transmission modes is one of the important factors leading to the different effects of public crisis sentiment management. At last, we take a deep insight on the effectiveness of micro-blog’s dealing with public crisis sentiment’s influence on companies’ stock revenue. According to the result, we assume that micro-blog’s public crisis sentiment management do improve the companies’ stock revenue.