Improving the Financial Stability of IT Companies through Social Media Marketing
Author:
Sydorenko Natalya1, Mitchuk Olha2, Holik Oksana3, Diahovchenko Liliia4, Havryliuk Inna4, Myronets Nina5
Affiliation:
1. Department of History of Journalism, Taras Shevchenko National University of Kyiv, 36/1 Yurii Illenko Str., 04119, Kyiv, UKRAINE 2. Department of Journalism and New Media, Borys Grinchenko Kyiv University, 13B Marshal Tymoshenko Str., 04212, Kyiv, UKRAINE 3. Department of Journalism and Advertising, Kyiv National University of Trade and Economics, 19 Kyoto Str., 02156, Kyiv, UKRAINE 4. Department of Journalism and Philology, Sumy State University, 2, Rymskogo-Korsakova Str., 40007, Sumy, UKRAINE 5. Department of Geography and Tourism, Private Higher Education Establishment “Academician Stepan Demianchuk International University of Economics and Humanities”, 4 Stepan Demianchuk Str., 33000, Rivne, UKRAINE
Abstract
In the context of the COVID19 pandemic, many companies face the problem of declining financial stability. IT companies are unique in this aspect, because their field of activity is entirely based on digital platforms and does not require direct contact with customers. Besides, social media marketing is becoming increasingly popular. The study of the impact of social media marketing on improving the financial stability of IT companies becomes urgent under the conditions of fierce competition, when it is necessary to ensure high rates of financial stability. The aim of the study is to determine the impact of social media marketing on improving the financial stability of IT companies. The data sample for this study includes the 20 largest IT outsourcing companies in Ukraine in 2020. The study was conducted using linear regression models, which were tested by the least squares method. The impact of social media marketing was introduced into the model through the use of a dummy variable. The results of the study showed that social media marketing has a positive statistically significant impact on Profitability of Cash, Profitability of Cash Outflow, Profitability of Cash Inflow, Profitability of Net Cash Flow. The obtained results can be used to assess the impact of social media marketing on cash flow indicators and financial stability of IT companies. The study opens up new areas for further research, in particular the impact of the established brand of the IT company in social media on its financial stability.
Publisher
World Scientific and Engineering Academy and Society (WSEAS)
Subject
Economics and Econometrics,Finance,Business and International Management
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