THE IMPACT OF SOCIAL MEDIA PRESENCE, RESPONSE TIME, CORPORATE ACTIONS ON THE STOCK MARKET: EVIDENCE FROM THE RUSSIA–UKRAINE WAR

Abstract

This study investigates the influence of social media presence and conflict response on the stock returns during the Russia–Ukraine war. We examined the long-term impacts regarding social media presence, response time, action taken, and industry affiliation using a sample of 174 firms in 10 industrial sectors. The results highlight that response time and actions significantly impacted stock returns in both the short- term and long-term. Conversely, social media presence marginally affected response decisions, but did not significantly affect stock returns.