The Relationship between Online Engagement and Profitability: An Empirical Analysis of 2020-2023 Data
This study investigates the relationship between online attention metrics and return on assets (ROA) for publicly traded companies during the 2020-2023 period. The goal was to understand how various online engagement indicators, such as social media activity, website traffic, and search trends, may be correlated with a key financial performance measure like ROA. However, the results show that the relationship between online engagement and ROA is not statistically significant. Instead, the analysis revealed that net interest margin has a significant positive impact on ROA, while current ratio has a significant negative impact. These findings challenge the common assumption that increased digital visibility and interaction automatically translates to stronger financial performance. The lack of a meaningful connection between online attention and profitability underscores the need for more in-depth, multi-dimensional research to fully unpack this complex relationship.
Keywords: Online Attention, Return on Assets (ROA), Financial Performance, Digital Engagement, Publicly Traded Companies
