“Don’t Be a Bragger!”: Social Media Impression and Firm’s Financial Performance

Abstract

The failure of banks to safeguard customers’ funds has become a substantial issue that has affected public impressions on social media. One of the strategies to ensure the company's reputation is performing impression management. This study aims to assess the financial performance impact of using impression management on banking's Twitter. This study collected 6712 tweets from banks listed on the Indonesia Stock Exchange in 2019. The regression shows no influence on financial performance when banks post a lot of their achievements and accomplishments. However, being a friendly bank can have a favourable impact on financial performance. Empirically, this study contributes to explaining the influence of impression management categories on social media on financial performance, implying that firms should make the most of their social media communications to manage public impressions.