TY  - RPRT
        AU  - Bassanini, Andrea
AU  - Caroli, Eve
AU  - Ferreira, Bruno Chaves
AU  - Rebérioux, Antoine
        TI  - Don't Downsize This! Social Reactions to Mass Dismissals on Twitter
        PY  - 2020/Nov/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 13840
        UR  - https://www.iza.org/index.php/publications/dp13840
        AB  - We study the reactions to job destructions on Twitter. We use information on large-scale job-destruction and job-creation events announced in the United Kingdom over the period 2013-2018. We match it with data collected on Twitter regarding the number and sentiments of the tweets posted around the time of the announcement and involving the company name. We show that job-destruction announcements immediately elicit numerous and strongly negative reactions. On the day of the announcement, the number of tweets and first-level replies sharply increases as does the negativity of the sentiments of the posted tweets. These reactions are systematically more important than reactions to job creations. We also show that they trigger significant losses in the market value of the downsizing firms. Our findings suggest that job destructions generate reputational costs for firms to the extent that they induce a strong negative buzz involving the company name.
        KW  - job destructions
KW  - job creations
KW  - adjustment costs
KW  - social media
KW  - sentiment analysis
KW  - cumulative abnormal returns
        ER  -