TITLE:
Assessing Depth of Social Media Presence on Financial Performance of SMEs: Evidence from Syrian SMEs. A Panel Fixed Effect Analysis
AUTHORS:
Rasha Mohamad Daood, Jian Wang, Emmanuel Owusu Oppong
KEYWORDS:
Social Media Adoption, Financial Performance, ROE, ROA, Profitability, PCSE, FGLS, DOLSHM
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.14 No.5,
May
27,
2024
ABSTRACT: This study examines the impact of social media adoption on the financial performance of small and medium-sized enterprises (SMEs) in Syria. Using data from 2010 to 2022 covering 40 registered SMEs under the Ministry of Trade, we employ a Panel Fixed Effect model to analyse the relationship between depth of social media usage and firm financial performance metrics such as profit growth, return on equity growth, and return on assets growth. Additionally, we utilise robust models, including the panel error correction model, panel dynamic least square regression, method of moment quantile, and difference-in-difference estimation, to ensure the reliability of our estimates. The findings of this study contribute to the growing literature on the impact of social media on SMEs in emerging markets, particularly in the context of Syria.