[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-123713-en":3,"doc-seo-123713-105":30,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":14,"update_tm":28,"read_time":29},123713,8796095360427,"Lucas Martin","https://ap-avatar.wpscdn.com/davatar_994ba38a5ba835b3df7d355c54d3ed8d",8,"Research & Report","Employer ratings in social media and firm performance - Evidence from an explainable machine learning approach","This study evaluates whether crowdsourced employee opinions about workplace conditions provide value-relevant signals about corporate culture. Using a large social media dataset of about 250,000 reviews, the analysis measures 18 employee-friendly (EF) corporate culture characteristics and links them to firm value and operating performance. An explainable machine learning approach captures nonlinear relationships and relative importance across culture features. Results show several EF attributes associated with Tobin's Q and ROA, with pride in the company and job security emerging as clearly superior. SHAP analysis indicates positive, significant, relatively linear effects for these two features.","DOI: 10. 1111/acfi.13146  \nR E S E A R C H A R T I C L E  \nEmployer ratings in social media and firm performance: Evidence from an explainable machine learning approach  \nMika Ylinen  | Mikko Ranta  \nSchool of Accounting and Finance, University of Vaasa, Vaasa, Finland  \nCorrespondence  \nMika Ylinen, School of Accounting and Finance, University of Vaasa, Wolffintie 34, Vaasa 65200, Finland. [Email: mika.ylinen@uwasa.fi](Email: mika.ylinen@uwasa.fi)  \nAbstract  \nThis study examines the ability of crowdsourced employee opinions about their workplace to reveal value-relevant information about corporate culture. We investigate the employee-friendly (EF) corporate culture values that are strongly associated with firm value and operating performance using a unique social media dataset of approximately 250,000 crowdsourced employee reviews to evaluate 18 distinct characteristics of a firm's corporate culture. The explainable machine learning model is used to examine the nonlinear associations and relative importance of employee-friendly cultural values. We find that several employee-friendly corporate culture features are associated with firms' value (Tobin's Q) and operating performance (ROA). Our findings reveal two features whose association is clearly superior to other EF culture variables in our explainable machine learning model: pride in the company for Tobin's Q and job security for ROA. Based on the SHAP values, their effects are positive, significant, and relatively linear.  \nK E Y WO R D S  \ncorporate culture, employee treatment, firm value, machine learning, social media  \nJ E L C L A S S I F I CAT IO N  \nC1, M4  \nThis is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and no modifications or adaptations are made.  \n© 2023 The Authors. Accounting & Finance published by John Wiley & Sons Australia, Ltd on behalf of Accounting and Finance Association of Australia and New Zealand.  \nAccounting & Finance. 2023;00:1–[30. wileyonlinelibrary.com/journal/acfi](30. wileyonlinelibrary.com/journal/acfi | 1)[ |](30. wileyonlinelibrary.com/journal/acfi | 1)[ 1](30. wileyonlinelibrary.com/journal/acfi | 1)  \n1 | INTRODUCTION  \nRapid advancements in social media have greatly facilitated the generation and diffusion of information by non-professionals and caused changes in corporate disclosure channels (e.g., Andrew & Baker, 2020; Linnenluecke et al., 2017). These social media platforms have recently enabled individual employee opinions about their firms to be more easily shared and accessed. Recent research suggests that these platforms, where employees can share their insider opinions on various characteristics of their employer, [such as Glassdoor.com](such as Glassdoor.com), provide information relevant in predicting future corporate performance (e.g., Green et al., 2019; Hales et al., 2018; Huang et al., 2020). Social media information has also been suggested as a valuable channel to reveal inside information about true corporate culture values. In a recent study by Graham et al. (2016, p. 38), interviewed executives suggested several avenues to measure a firm's corporate culture and outlined that employees' opinions on social media websites are an important source for measuring a firm's corporate culture.  \nIn this study, our aim is to examine whether employee ratings in social media reveal fundamental information about the association of corporate culture and company performance that is practically meaningful. The previous accounting and finance literature has widely supported corporate culture as an essential driver of business value. However, it has largely ignored the role that corporate culture can play (Guiso et al., 2015; Karolyi, 2016; Rajgopal, 2020); therefore, it is arguably one of the most under-researched value drivers among the important co","cbCaiveYFtbvooG0","https://ap.wps.com/l/cbCaiveYFtbvooG0","pdf",955499,1,30,"English","en",105,"# Introduction\n## Research Motivation\n## Study Aim and Approach\n# Data and Method (overview)\n## Employee-friendly corporate culture values\n## Explainable machine learning framework","[{\"question\":\"What does the study investigate about social media employee ratings?\",\"answer\":\"It examines whether crowdsourced employee opinions about workplaces reveal value-relevant information about corporate culture and its link to firm performance.\"},{\"question\":\"How large is the dataset and what does it cover?\",\"answer\":\"The study uses a unique social media dataset of approximately 250,000 crowdsourced employee reviews covering 18 features of employee-friendly (EF) corporate culture for about 493 S\\u0026P 1500 firms.\"},{\"question\":\"Which EF culture features show the strongest associations with firm outcomes?\",\"answer\":\"Pride in the company is strongest for Tobin's Q, while job security is strongest for ROA, both with effects that are positive, significant, and relatively linear based on SHAP values.\"}]","Employer ratings in social media and firm performance - Evidence from an explainable machine learning approach | PDF",1785818147,76,{"code":4,"msg":31,"data":32},"ok",{"site_id":24,"language":23,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":28},"employer-ratings-in-social-media-and-firm-performance-evidence-from-an-explainable-machine-learning-approach","",{"@graph":36,"@context":85},[37,54,68],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,51],{"item":41,"name":42,"@type":43,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":50},"https://docshare.wps.com/document/research-report/",3,{"item":52,"name":13,"@type":43,"position":53},"https://docshare.wps.com/document/employer-ratings-in-social-media-and-firm-performance-evidence-from-an-explainable-machine-learning-approach/123713/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":23,"description":14,"dateModified":62,"datePublished":62,"encodingFormat":61,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":41,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-08-04",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What does the study investigate about social media employee ratings?","Question",{"text":75,"@type":76},"It examines whether crowdsourced employee opinions about workplaces reveal value-relevant information about corporate culture and its link to firm performance.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"How large is the dataset and what does it cover?",{"text":80,"@type":76},"The study uses a unique social media dataset of approximately 250,000 crowdsourced employee reviews covering 18 features of employee-friendly (EF) corporate culture for about 493 S&P 1500 firms.",{"name":82,"@type":73,"acceptedAnswer":83},"Which EF culture features show the strongest associations with firm outcomes?",{"text":84,"@type":76},"Pride in the company is strongest for Tobin's Q, while job security is strongest for ROA, both with effects that are positive, significant, and relatively linear based on SHAP values.","https://schema.org",{"og:url":52,"og:type":87,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":89,"canonical":52},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":92},[93,97,101,105,110,115,120,122,127,130,134],{"id":20,"doc_module":4,"doc_module_name":46,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":46,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":46,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":46,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":46,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":21,"slug":121},"research-report",{"id":123,"doc_module":4,"doc_module_name":46,"category_name":124,"show_sort_weight":125,"slug":126},9,"Religion & Spirituality",20,"religion-spirituality",{"id":125,"doc_module":4,"doc_module_name":46,"category_name":128,"show_sort_weight":125,"slug":129},"World Cup","world-cup",{"id":131,"doc_module":4,"doc_module_name":46,"category_name":132,"show_sort_weight":131,"slug":133},10,"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":46,"category_name":136,"show_sort_weight":106,"slug":137},19,"General","general"]