The Impact Of Crisis Network Public Opinion On Corporate Performance And Empirical Study

With the development and advancement of internet technology,a series of social networking platforms,represented by microblogs and posting bars,which integrate information release,sharing and communication,have been derived.While these platforms provide people with expressions of opinions and emotional exchanges,they have also become the birthplace of online public opinion.Online public opinion on enterprise crisis refers to the online public opinion triggered by the explosive growth of crisis information stimulated by enterprise crisis events,which to a certain extent reflects the public’s attitudes and sentiment towards enterprise crisis events,spreads through the network and gradually evolves and spreads,directly affecting corporate performance and endangering the survival and development of enterprises.This paper proposes the research concept and basic model framework through literature review,codes and counts the reported articles related to corporate crisis online public opinion based on rooting theory,extracts the factors influencing corporate crisis online public opinion on corporate performance,and proposes hypotheses on the influence of corporate crisis online public opinion on corporate performance based on organizational legitimacy theory,stakeholder theory,butterfly effect theory and affective-cognitive theory.We selected 159 typical enterprise crisis online public opinion cases as research samples by screening them through the People’s Daily Online Public Opinion Database,used enterprise crisis online public opinion cases as keywords,collected enterprise crisis online public opinion text data by using web crawler technology,classified public opinion information into sentiment after pre-processing the text based on machine learning methods,and then collected enterprise performance data by using Guotaian(CSMR)database,WIND database,and annual reports of listed enterprises to establish a correlation model between corporate crisis online public opinion and corporate performance,and use multiple linear regression to verify the research hypotheses.The research results show that there is a significant negative correlation between people’s awareness of the crisis that induces online public opinion and corporate financial performance,but the effect on corporate market performance is not significant,meanwhile,the higher the percentage of negative comments in people’s discussion of corporate crisis,the greater the damage to corporate financial performance,but corporate market performance is not significantly affected,in addition,there is a significant negative correlation between online discussion of corporate crises and corporate financial performance,but a significant positive correlation between the relationship with corporate performance.Finally,based on the research results,we propose suggestions for managing corporate crisis online public opinion and point out the limitations of this study and directions for future research.This study analyzes the influence mechanism of crisis online public opinion on corporate performance from a quantitative perspective,which provides a theoretical basis for the study of public opinion on corporate performance in crisis situations to a certain extent,and offers suggestions for companies to mitigate crisis online public opinion.