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Our paper shows that firm-initiated social media can contribute significantly to the value of firms. The findings provide a rationale for firms to invest heavily in their social media while countering those who question the value of social media. Using a sample of 63 South Korean firms across industries over a three-year period, we find that a firm’s social media actions yield significant financial returns, and the magnitude of these financial returns depends on the types of communication actions: that is, a firm’s (broadcasted) posts versus its responses to customer messages. Our conceptual framework and empirical methodology can help firms more accurately gauge the ROI of their social media investments and tailor their efforts accordingly. Specifically, our results suggest that promptly responding to customer complaints is a key to increasing customer satisfaction and firm performance. Taken together, our study provides guidance for firms on how to optimize their social media strategies to extract greater value from social media. The primary goal of this study is to investigate the financial returns to firms’ communication actions on a firm-initiated social media platform by focusing on Facebook Business pages. To this end, we conceptualize and quantify two types of firms’ communication actions on social media: posts and responses to customer messages . Furthermore, we classify a firm’s responses to customer messages based on the valence of customer messages—positive versus negative—and examine the effects of volume as well as timeliness of the two types of a firm’s responses to customer messages on firm performance. Using a sample of 63 South Korean firms across industries over a three-year period (5,566 firm-week observations), we find that the volume and timeliness of a firm’s responses to negative customer messages, which are associated with an increase in customer satisfaction, have a significant positive impact on the firm’s market performance measured by abnormal returns and Tobin’s q . Interestingly, the results suggest that a firm’s posts and its responses to positive customer messages are not significantly associated with firm performance. Furthermore, we find that a firm’s posts and its responses to negative customer messages exhibit complementarities in contributing to firm performance. Our results are robust to various alternative specifications, econometric concerns, and Facebook’s policy changes, such as EdgeRank and Promoted Post . Our findings underscore the business value of firms’ actions on social media and provide unique and important implications for theory and practice regarding the appropriate ways to use social media for building and managing customer relationships.

Firms usually need to attract debt to form and grow, but increasing financial leverage also entails increased risks and costs for stakeholders, such as customers and employees. Accordingly, past research suggests that for common commercial firms (CCFs), which prioritize profits, higher leverage leads to lower sales growth and higher employment costs. However, Certified B Corporations (CBCs) distinguish themselves by having a credible prosocial mission and, therefore, might be better insulated against the adverse effects of higher leverage. Using a European multi-country matched sample of 136 CBCs and 136 CCFs, we find that the negative relationship between leverage and sales growth and the positive relationship between leverage and employment costs are weaker for CBCs than CCFs. Taken together, due to their certified prosocial mission, CBCs enjoy an advantage in debt financing compared to CCFs.

Background Social firms – a type of social enterprise – provide job opportunities to people with mental or intellectual, sensory, physical or multiple disabilities who are disadvantaged on the general labour market. Given the limited number of studies on working conditions of employees in inclusive workplaces, the aim of this study was to explore job demands and resources experienced by employees with disabilities in German social firms. Methods Three focus groups were conducted between September and October 2020 with 14 employees with disabilities from social firms in the catering and cleaning sector in Germany. The Job Demands-Resources model was used as a theoretical basis for developing the semi-structured interview guide. Audiotaped data were transcribed verbatim, analysed deductively and inductively using the qualitative content analysis according to Mayring. Results The results show that employees of social firms experience specific job demands and resources regarding work content, work organisation, social relations and work environment. Job demands were mainly reported with respect to work organisation, e.g. high workload, time pressure or challenges in collaboration, whereas social relationships with colleagues and supervisors were most frequently mentioned as important resources at the workplace. Conclusion First exploratory study results on the working conditions of employees in social firms in Germany were obtained. Given the pivotal importance of employment for people with disabilities, the identified job demands and resources of this study highlight the relevance of a healthy workplace, especially for employees in social firms. Future interventional research is needed regarding the development, implementation and evaluation of workplace health promotion measures in social firms.

Social media has become an important channel for marketing and management of enterprises, but the effects of social media capability on firm performance has not been verified systematically, particularly the effects of CEOs’ social media capability. Based on the Dynamic Capability Theory, this study validates the causal relationship between social media capability and firm performance, then examine the significant effects of firm social media capability on firm performance and consumer engagement and the moderating effects of CEOs’ social media capability. The findings prove the following: firm social media capability leads to a positive effect on firm performance and consumer engagement; CEOs’ social media capability moderates the relationship between firm social media capability and firm performance significantly. Implications for academic research and practice were also discussed based on the research findings.

This research aims at analysing the influence of a holistic configuration of factors related to industry and the characteristics of the entrepreneur and the business, on the survival of social and commercial entrepreneurial initiatives in both, new and consolidated companies. The sample ranges from 2,851 to 2,109 firms, according to the period considered, and has been obtained from the reports of the projects submitted to the Assistance Programme to Young Entrepreneurs, promoted by the Valencian Institute of Youth. Other sources of information have been the Institute’s own reports and the Chambers of Commerce. A configurational analysis is performed using the Fuzzy-Set Qualitative Comparative Analysis. The results obtained show that there is no necessary condition by itself and that there are several sufficient solutions that explain a considerable percentage of survival cases. They also show how the solutions vary significantly and, consequently, the relevance of the different causal antecedents, when the company acquires greater maturity.

On the general labor market, social firms provide 30–50% of people with different types of disabilities the opportunity to gain employment. However, the topic of workplace health promotion (WHP), needs for improvement and accompanied challenges are neglected in the current research and were the focus of the present study. Therefore, data triangulation was used between July and December 2020 by combining three focus groups with employees (n = 14 employees) with 16 interviews with supervisors from several social firms in Northern Germany (e.g., from catering, cleaning or bicycle repair sectors). 17 semi-structured telephone interviews with experts in the field of WHP or social firms were added. All approaches were audio-taped, transcribed and anonymized. To analyze the data, Mayring’s qualitative content analysis was used. The results indicated that several offers for WHP, including sport, nutrition and relaxation, were offered, as well as those on smoking cessation, cooperation with external organizations or training and education offers. Needs for improvement were stated referring to additional sport offers, support for implementing a healthy diet, offers for relaxation, financial incentives or collaborations with external organizations. A low take-up of offers; a lack of resources, structures or management support; compatibility of offers with work time and organization; challenges with available trainings or the consideration of individual needs and capacities were highlighted as challenges. Overall, there is a need for further interventional and longitudinal research on WHP in social firms.

Social firms are located on the general labor market and employ 30–50% of severely disabled people. Findings on personal and work-related impacts for employees and supervisors during the COVID-19 pandemic are not yet available and will be investigated in the present study. Using the approach of a method triangulation, focus groups with employees and individual interviews with supervisors of several social firms from the North of Germany were combined and collected in parallel. Between July and November 2020, 16 semi-structured telephone interviews with supervisors and three focus groups with 3–6 employees each working within the same team (14 employees in total) were conducted. Both formats were recorded, transcribed, anonymized, and analyzed by using Mayring’s qualitative content analysis. Because a large proportion of the employees and supervisors interviewed worked in the gastronomy sector, they were particularly affected by the “restriction of social contacts” beginning in March 2020. Hygiene and distance regulations were implemented and personnel planning and distribution of work were adapted. Challenges were raised for employees with disabilities due to the implementation of hygiene and distance regulations, a sudden loss of work, lacking routines, additional work, a lack of movement, social contacts and financial challenges. Both employees and supervisors reported fears of infection, conflicts, additional work and fears of job loss. Additionally, supervisors dealt with less staffing, challenges in detaching from work and a strained economic situation. Overall, new insights were gained into the work-related impacts for employees and supervisors in inclusive workplaces during the current COVID-19 pandemic but further research on health-promoting structures is needed.

Background Employment within social firms in the UK is under-developed and under-researched, but a potentially beneficial route to vocational rehabilitation for people with mental health problems. This study explores the views and experiences of employees with mental ill-health, managers of social firms and mental health clinicians, in order to understand the potential value of social firms for the vocational rehabilitation, employment and well-being of people with mental health problems. Methods Semi-structured interviews were conducted with 23 employees with mental health problems in 11 social firms in England. A focus group and individual interviews were conducted with 12 managers of social firms. Two focus groups were held with 16 mental health clinicians. Data were analysed using thematic analysis. Results Most employees expressed very positive views about working in a social firm. In responses from both employees and social firm managers, an overarching theme regarding the supportive ethos of social firms encompassed several related features: openness about mental health issues; peer, team and management support; flexibility; and support to progress and develop skills over time. Managers identified benefits of employing people with mental health problems who were sufficiently recovered. Knowledge of social firms within clinician focus groups was very limited, although clinicians thought they could be a welcome additional vocational resource. Conclusions High levels of job satisfaction among social firm employees may be explained by the supportive ethos of these working environments. Social firms have potential to be a helpful addition to the range of vocational pathways available for people with mental ill-health. Further mixed methods investigations of experiences and outcomes in order to understand who engages with and benefits from this form of vocational rehabilitation would be valuable in informing decisions about scaling up the model.