DOES CORPORATE SOCIAL DISCLOSURE ON SOCIAL MEDIA INCREASE COMPANY VALUE? A QUALITATIVE RESEARCH

Abstract Social media has a significant impact on a company's review process. As a result, many companies are now using social media to increase their corporate value. This study looks at whether disclosing a company's performance on the social side of social media can increase its value. The survey was conducted using a qualitative method. The data was collected through semi-structured interviews with 3 scholars in the fields of accounting and finance, governance, and communication. The results of the survey reveal that the development of Indonesian capital markets has prompted changes in the investment behavior of those who have begun to use stocks as a means of investment. However, the increase in the number of investors has not been optimally complemented by the increase in public financial literacy. The current trend is that many millennials are investing in capital markets. Millennials usually use social media to look up the existence of a company. Therefore, social media is considered to be a more effective forum for communicating corporate information than annual reports. Similar to using Instagram accounts, Twitter and TikTok are now widely used by businesses to communicate their achievements. Currently, the general public is gradually educated to judge the company. Not only is the company valued in terms of profitability, but the community is valued for the achievement of social and environmental aspects of the company. There are no special restrictions on the disclosure of the company's performance on social media as it is voluntary. Therefore, the results of this study are expected to help regulators not only encourage more responsible disclosure but also enhance the company's image without adding significant value.Abstract Social media has a significant impact on a company's review process. As a result, many companies are now using social media to increase their corporate value. This study looks at whether disclosing a company's performance on the social side of social media can increase its value. The survey was conducted using a qualitative method. The data was collected through semi-structured interviews with 3 scholars in the fields of accounting and finance, governance, and communication. The results of the survey reveal that the development of Indonesian capital markets has prompted changes in the investment behavior of those who have begun to use stocks as a means of investment. However, the increase in the number of investors has not been optimally complemented by the increase in public financial literacy. The current trend is that many millennials are investing in capital markets. Millennials usually use social media to look up the existence of a company. Therefore, social media is considered to be a more effective forum for communicating corporate information than annual reports. Similar to using Instagram accounts, Twitter and TikTok are now widely used by businesses to communicate their achievements. Currently, the general public is gradually educated to judge the company. Not only is the company valued in terms of profitability, but the community is valued for the achievement of social and environmental aspects of the company. There are no special restrictions on the disclosure of the company's performance on social media as it is voluntary. Therefore, the results of this study are expected to help regulators not only encourage more responsible disclosure but also enhance the company's image without adding significant value.