Corporate Communication and ESG Messages on Social Media: Evidence from Romanian Listed Companies (2020–2024)

The study examines how three major companies in Romania, OMV Petrom, Banca Transilvania, and Transelectrica, use social media to communicate ESG topics. An analysis of content published on Facebook between 2020 and 2024 shows a clear dominance of the social dimension, with an emphasis on communities, education, health, and employee stories. The environment and sustainability are constantly mentioned, but with less visibility. Governance is presented through leadership messages and limited transparency. The results highlight the role of social networks as a tool for reputational legitimacy and stakeholder engagement. The study discusses data validity, generalization limits, and the credibility of the conclusions, showing that social media reflects companies' strategic intent, not overall ESG performance.