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Using a sample of 63 South Korean firms across industries over a three-year period, we find that a firm\u2019s social media actions yield significant financial returns, and the magnitude of these financial returns depends on the types of communication actions: that is, a firm\u2019s (broadcasted) posts versus its responses to customer messages. Our conceptual framework and empirical methodology can help firms more accurately gauge the ROI of their social media investments and tailor their efforts accordingly. Specifically, our results suggest that promptly responding to customer complaints is a key to increasing customer satisfaction and firm performance. 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