Understanding the impact of online firestorms on financial performance in corporate social responsibility campaigns

Purpose This study examines the impact of online firestorms on the financial performance of corporate social responsibility (CSR) campaigns by analyzing Twitter data and stock market trends. Design/methodology/approach Four publicly known campaigns that received backlash were studied, involving data from 76,242 tweets. Findings This investigation revealed that organizations could still achieve financial gains despite experiencing backlash. The duration of an online firestorm typically ranged between three to six days. Also, a positive correlation was found between online sentiment on social media and stock market prices. Originality/value The findings provide significant insights for both academia and organizations, demonstrating that CSR campaigns involved in online firestorms do not necessarily result in adverse financial outcomes. Overall, this study provides valuable perspectives on the effects of CSR campaigns and their potential impacts on financial performance.