Research On The Impact Of BYD’s We Media Information Disclosure On Financial Performance

Under the wave of information revolution,the information dissemination carrier of listed companies continues to change,Weibo platform and We Chat public accounts are gradually becoming important means for enterprises to make information disclosure and value transmit.We media information disclosure has a significant impact on the efficiency of information acquisition and transmission in the capital market,and has developed into a frontier research issue in accounting and finance.Existing studies related to we media information disclosure mainly adopt a large-sample empirical research paradigm,the economic consequences of we media information disclosure have been extensively explored,focusing on financing constraints,capital market information efficiency and stock price collapse risk.Based on the existing research,this paper uses BYD as a case study object to explore the specific impact of we media disclosure on its financial performance.Using agency theory and group wisdom theory as the theoretical basis,we manually collect and organize the current situation of BYD’s we media information disclosure on Weibo and We Chat platforms,and analyze it in terms of textual content,disclosure form,release timing,and interaction.We analyze the motivation of BYD’s active development of we media information disclosure with the results of related literature,and further clarify the mechanism and path of we media information disclosure affecting financial performance.Then,we analyze the impact of BYD’s we media information disclosure on financial performance,and specifically analyze the changes of BYD’s financial performance and the specific impact of BYD’s continuous we media information disclosure practices in recent years.By using the event study,we selected some typical BYD’s we media information disclosure events in recent years to effectively measure the impact on short-term financial performance;using the financial analysis method,we introduced comparable companies in the same industry to conduct horizontal and vertical comparisons of long-term performance;combined with the factor analysis method,we made a scientific and reasonable evaluation of the changes in BYD’s comprehensive performance.This paper finds that BYD’s we media information disclosure has a positive impact on the financial performance of enterprises,while there is still a wide range of development.Therefore,the we media platform should strive to further standardize the platform operation,and BYD should scientifically use the we media to carry out information disclosure to promote more significant breakthroughs in the financial performance of enterprises.At the end of this article,corresponding policy suggestions are put forward to improve the we media information disclosure behavior of listed companies.