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Research Article

Video-based Social Media and Financial Statement Comparability: Based on YouTube Platform

WOOJUNE JUNG, Ahn Hyejin

Hongik University
Hongik University

Published: January 2025 · Vol. 54, No. 4 · pp. 843-866

DOI: https://doi.org/10.17287/kmr.2025.54.4.843

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Abstract

This study examines the relationship between corporate information on YouTube, a video-based social platform, and financial statement comparability. Using an empirical analysis of 10,238 firm-year observations from companies listed on the KOSPI and KOSDAQ markets in Korea between 2014 and 2022, we find a significantly positive relationship between the number of YouTube videos about a firm and its financial statement comparability. Moreover, this positive relationship is more pronounced for firms with high information asymmetry and for those audited by non-Big4 accounting firms. These findings suggest that YouTube videos serve a governance role over corporate activities, encouraging managers to provide more comparable financial statements. Furthermore, they highlight YouTube's role as an important information-sharing platform that reduces information asymmetry in capital markets. This study contributes to the literature by empirically demonstrating the impact of video-based social media—an increasingly influential information platform—on financial reporting. It also extends the determinants of comparability research to include the media information environment.
Keywords: 소셜미디어동영상재무제표 비교가능성정보비대칭