The Impact of Social Media on Restaurant Corporations’ Financial Performance
Social media, in the form of online reviews (ORs), has become an essential element for consumers in the restaurant industry, providing reliable and unbiased information based on the dining experiences of other consumers. Social media is not only a crucial phenomenon for the strategy of restaurants,...
| Main Authors: | , , , |
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| Format: | info:eu-repo/semantics/article |
| Language: | English |
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MDPI
2020
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10835/7742 |
| _version_ | 1789406690651668480 |
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| author | Fernández Miguélez, Sergio M. Díaz Puche, Miguel Campos Soria, Juan A. Galán Valdivieso, Federico |
| author_facet | Fernández Miguélez, Sergio M. Díaz Puche, Miguel Campos Soria, Juan A. Galán Valdivieso, Federico |
| author_sort | Fernández Miguélez, Sergio M. |
| collection | DSpace |
| description | Social media, in the form of online reviews (ORs), has become an essential element for consumers in the restaurant industry, providing reliable and unbiased information based on the dining experiences of other consumers. Social media is not only a crucial phenomenon for the strategy of restaurants, but also for their corporations. However, previous literature has focused on the analysis at the establishment level, rather than at the corporate level, especially when referring to financial performance. The present study tries to verify if social media also affects corporate financial performance. For this, the impact of ORs on advanced measures of financial performance was examined at the corporate level on a sample of 800 restaurants selected from the total population of active restaurants in Europe in 2018. The investigation applied both regression analysis and nonparametric techniques. They demonstrate a positive effect of ORs on financial performance, and a heterogeneous relationship between both variables across the European countries. Restaurants are becoming aware of the implications of this phenomenon since it could provide strategies for sustainable economic development. |
| format | info:eu-repo/semantics/article |
| id | oai:repositorio.ual.es:10835-7742 |
| institution | Universidad de Cuenca |
| language | English |
| publishDate | 2020 |
| publisher | MDPI |
| record_format | dspace |
| spelling | oai:repositorio.ual.es:10835-77422023-04-12T19:09:57Z The Impact of Social Media on Restaurant Corporations’ Financial Performance Fernández Miguélez, Sergio M. Díaz Puche, Miguel Campos Soria, Juan A. Galán Valdivieso, Federico online restaurant reviews restaurant corporations consumer review websites financial performance Europe Social media, in the form of online reviews (ORs), has become an essential element for consumers in the restaurant industry, providing reliable and unbiased information based on the dining experiences of other consumers. Social media is not only a crucial phenomenon for the strategy of restaurants, but also for their corporations. However, previous literature has focused on the analysis at the establishment level, rather than at the corporate level, especially when referring to financial performance. The present study tries to verify if social media also affects corporate financial performance. For this, the impact of ORs on advanced measures of financial performance was examined at the corporate level on a sample of 800 restaurants selected from the total population of active restaurants in Europe in 2018. The investigation applied both regression analysis and nonparametric techniques. They demonstrate a positive effect of ORs on financial performance, and a heterogeneous relationship between both variables across the European countries. Restaurants are becoming aware of the implications of this phenomenon since it could provide strategies for sustainable economic development. 2020-03-02T11:40:22Z 2020-03-02T11:40:22Z 2020-02-22 info:eu-repo/semantics/article 2071-1050 http://hdl.handle.net/10835/7742 en https://www.mdpi.com/2071-1050/12/4/1646 Attribution-NonCommercial-NoDerivatives 4.0 Internacional http://creativecommons.org/licenses/by-nc-nd/4.0/ info:eu-repo/semantics/openAccess MDPI |
| spellingShingle | online restaurant reviews restaurant corporations consumer review websites financial performance Europe Fernández Miguélez, Sergio M. Díaz Puche, Miguel Campos Soria, Juan A. Galán Valdivieso, Federico The Impact of Social Media on Restaurant Corporations’ Financial Performance |
| title | The Impact of Social Media on Restaurant Corporations’ Financial Performance |
| title_full | The Impact of Social Media on Restaurant Corporations’ Financial Performance |
| title_fullStr | The Impact of Social Media on Restaurant Corporations’ Financial Performance |
| title_full_unstemmed | The Impact of Social Media on Restaurant Corporations’ Financial Performance |
| title_short | The Impact of Social Media on Restaurant Corporations’ Financial Performance |
| title_sort | impact of social media on restaurant corporations’ financial performance |
| topic | online restaurant reviews restaurant corporations consumer review websites financial performance Europe |
| url | http://hdl.handle.net/10835/7742 |
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