A LITERATURE REVIEW ON SOCIAL MEDIA IN FINANCE

Year 2023, Volume: 17 Issue: 1, 149 - 152, 30.07.2023

Gaye Ferah , Selay Ilgaz Sümer

https://doi.org/10.17261/Pressacademia.2023.1768

Abstract

Purpose- The aim of this study is to summarize the findings obtained from research on social media and finance, to analyze various perspectives, and to make some contributions to the researchers and shed light on future studies.
Methodology- In the study, articles examining the relationship between social media and finance were examined in the national database, DergiPark. In this context, the study will provide information on the usage of social media, customer relationship management, marketing strategies of financial companies and contribute to a better understanding of the role of social media in the financial world. In the study, a literature review of the last five years is included. For this purpose, article was searched in DergiPark using the expression "social media and finance". Then, the selected studies were examined within the framework of titles such as content, keywords, method, findings, and suggestions. The study is important in terms of presenting information about the importance and effects of social media in the financial world and informing the parties about the studies. The literature review clearly reveals the impact of social media on the financial world for the last five years.
Findings- Studies show that social media enables news to spread faster in financial markets, facilitates investors' access to information and is effective on investment decisions. In addition, it has been determined that social media platforms are important in marketing and customer relationship management for financial companies. On the other hand, analyses show that social media brings some difficulties in the financial world. Information pollution and false news raise the issue of reliability of social media. Therefore, more attention and precautions are needed to understand and manage the rising role of social media in the financial world. In the literature review, it is seen that social media has an increasing effect in the financial world and this effect is expected to grow even more. In this context, it is important that financial institutions use social media strategically and take precautions against reliability and accuracy problems. At the same time, social media should be used consciously for individuals and investors who are interested in financial issues.
Conclusion- Social media platforms facilitate access to financial information, increase communication between investors and influence financial decisions. In addition to all this, some challenges arise regarding the rising role of social media in the financial world. Problems such as misinformation, misdirection and manipulation attempts raise concerns about reliability and accuracy. Therefore, appropriate measures should be taken, and social media should be used carefully to manage the impact of social media in the financial world.

Keywords

Social media, customer satisfaction, finance, financial performance, banking

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