Main Article Content
Abstract
This study aims to analyze the integration of digital marketing with corporate financial reporting, focusing on its impact on transparency, accountability, and the challenges associated with its implementation. The research adopts a qualitative approach through an extensive literature review, systematically examining scholarly articles, industry reports, and case studies from reputable sources. The analysis uses thematic coding to identify trends, challenges, and the implications of integrating digital marketing data into financial reporting. The findings reveal that digital marketing significantly enhances financial transparency and accountability by providing real-time data and facilitating dynamic stakeholder engagement. Platforms such as social media and corporate websites are pivotal in disseminating financial information and receiving real-time feedback, improving financial reports' accuracy. However, integrating digital marketing data poses challenges, including data security, regulatory compliance, and the need for new skills among financial professionals. Companies that effectively harness AI and big data analytics in their financial reporting demonstrate improved forecasting and decision-making capabilities. This integration offers transformative opportunities for businesses to enhance their financial reporting's accuracy and timeliness. Nevertheless, addressing the challenges of data integration and security, as well as bridging the skills gap, is crucial for realizing the full potential of digital marketing in financial reporting.
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References
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References
Alfakiahmed, A. O. G., & Halim, P. A. (2023). The Effect of Digital Marketing Communication in Opening Letter of Credit at Bank BNI Bandung. International Journal For Multidisciplinary Research, 5(3). https://doi.org/10.36948/ijfmr.2023.v05i03.3822
Alimzhanova, L. (2023). Identification of cybersecurity risks and threats to ensure the integrity of the financial sector. 1(1). https://doi.org/10.26577/jpcsit.2023.v1.i1.06
Amoako, G. K., Bonsu, G. A., Gabrah, A. Y. B., & Ampong, G. O. A. (2023). Digital Marketing and Sustainability Competitive Advantage: A Conceptual Framework. In Handbook of Research on Achieving Sustainable Development Goals With Sustainable Marketing (pp. 170–188). IGI Global. https://doi.org/10.4018/978-1-6684-8681-8.ch009
Avira, S., Rofi’ah, Setyaningsih, E., & Utami, S. S. (2023). Digital Transformation in Financial Management: Harnessing Technology for Business Success. Influence. https://doi.org/10.54783/influencejournal.v5i2.161
Belostecinic, G. (2023). Digital Marketing – a New Stage in the Evolution of the Modern Marketing Concept. Economica, 1(123), 7–22. https://doi.org/10.53486/econ.2023.123.007
Bergemann, D., & Bonatti, A. (2023). Managed Campaigns and Data-Augmented Auctions for Digital Advertising. https://doi.org/10.1145/3580507.3597807
Buschmann, T. (2023). How AI is re-shaping the financial industry: lights, shades and perspectives (pp. 205–214). https://doi.org/10.4337/9781803923154.00019
Chaffey, D., & Ellis-Chadwick, F. (2019). Digital Marketing: Strategy, Implementation and Practice. Pearson.
Chen, J. (2023). The Impact of Artificial Intelligence on the Financial Services Industry. 2(3), 83–85. https://doi.org/10.54097/ajmss.v2i3.8741
Cioppi, M., Curina, I., Francioni, B., & Savelli, E. (2023). Digital transformation and marketing: a systematic and thematic literature review. In Italian Journal of Marketing (Vol. 2023, Issue 2). Springer International Publishing. https://doi.org/10.1007/s43039-023-00067-2
Davenport, T. H., & Harris, J. G. (2017). Competing on Analytics: The New Science of Winning. Harvard Business Review Press.
Dhatterwal, J. S., Kaswan, K. S., Dahiya, M., & Jindal, P. (2023). Data analytics in finance. In Intelligent Multimedia Technologies for Financial Risk Management: Trends, tools and applications (pp. 81–113). https://doi.org/10.1049/pbpc060e_ch5
Graetsch, U. M., Khalajzadeh, H., Shahin, M., Hoda, R., & Grundy, J. (2022). Dealing with Data Challenges when Delivering Data-Intensive Software Solutions. IEEE Transactions on Software Engineering, abs/2209.14055. https://doi.org/10.48550/arXiv.2209.14055
Grozea, I. (2023). Digitalization in Social Media: Changing Connections, Communications, and Banking Systems in the Era of the Internet. 55, 140–148. https://doi.org/10.2478/saec-2023-0011
Gryshchenko, I. (2023). Insights into digital marketing management framework in modern organizations. Žurnal Strategìčnih Ekonomìčnih Doslìdženʹ. https://doi.org/10.30857/2786-5398.2022.4.8
Gupta, M. B. (2023). Role of Digital Marketing in Enhancing Brand Engagement and Consumer Behavior. International Journal of Advanced Research in Science, Communication and Technology, 3(1). https://doi.org/10.48175/ijarsct-12100
Kaplan, A. M., & Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of social media. Business Horizons, 53(1), 59–68.
Kim, J.-Y. (2023). Digital transformation of finance (pp. 17–32). https://doi.org/10.4324/9781003310082-4
Kingsnorth, S. (2019). Digital Marketing Strategy: An Integrated Approach to Online Marketing. Kogan Page Publishers.
Konstantinidis, T. D., Xu, Y., Constantinides, T., & Mandic, D. P. (2023). A comparative study on ML-based approaches for Main Entity Detection in Financial Reports. 1–5. https://doi.org/10.1109/DSP58604.2023.10167951
Kulkarni, P. (2023). Application of Data Analytics in Risk Management of Fintech Companies. 384–389. https://doi.org/10.1109/ICIDCA56705.2023.10099795
Laskin, A. V., & Hoffmann, C. P. (2023). Digital corporate communication and financial communication and investor relations (pp. 91–102). https://doi.org/10.4337/9781802201963.00016
Laudon, K. C., & Traver, C. G. (2021). E-commerce 2021: Business, Technology, Society. Pearson.
Li, C., Wang, Y., Zhou, Z., Wang, Z., & Mardani, A. (2023). Digital finance and enterprise financing constraints: Structural characteristics and mechanism identification. Journal of Business Research, 165, 114074. https://doi.org/10.1016/j.jbusres.2023.114074
Li, S., Shi, Y. Y., Wang, L., & Xia, E. (2023). A Bibliometric Analysis of Brand Orientation Strategy in Digital Marketing: Determinants, Research Perspectives and Evolutions. Sustainability, 15(2), 1486. https://doi.org/10.3390/su15021486
Lombardi, R. (2020). The digital transformation of corporate reporting – a systematic literature review and avenues for future research. Meditari Accountancy Research, 1(1). https://doi.org/10.1108/MEDAR-04-2020-0870
Lützen, J. (2023). Digital Finance and Corporate Sustainability Performance: Promoting or Restricting? Evidence from China’s Listed Companies. Sustainability, 15(13), 9855. https://doi.org/10.3390/su15139855
Meyer, K. E., Li, J., Brouthers, K. D., & Jean, R.-J. “Bryan.” (2023). International business in the digital age: Global strategies in a world of national institutions. Journal of International Business Studies, 54(4), 577–598. https://doi.org/10.1057/s41267-023-00618-x
Mihai, M. (2023). A Quantitative Analysis on the Impact of Artificial Intelligence Solutions in Accounting and Audit. Audit Financiar. https://doi.org/10.20869/auditf/2023/171/016
Nargesian, F., Asudeh, A., & Jagadish, H. V. (2023). Next-generation Challenges of Responsible Data Integration. https://doi.org/10.1145/3539597.3572727
Oh, S.-B., Park, M. J., Kim, T. Y., & Shin, J. (2022). Marketing strategies for fintech companies: text data analysis of social media posts. Management Decision, 61(1), 243–268. https://doi.org/10.1108/md-09-2021-1183
Pillai, R. H., & Bi, A. (2023). Innovative Business Research in Finance and Marketing System Based on Ethically Governed Artificial Intelligence. 1–8. https://doi.org/10.1109/ICONSTEM56934.2023.10142836
Ryan, D. (2017). Understanding Digital Marketing: Marketing Strategies for Engaging the Digital Generation. Kogan Page Publishers.
Sitnik, A. A. (2023). The Role of Digital Platforms in the Organization of the Financial Market. Lex Russica, 76(6), 121–127. https://doi.org/10.17803/1729-5920.2023.199.6.121-127
Sudalyo, R. A. T. (2023). The Influence of Digital Marketing on Accounting Decisions: Implications and Challenges. Jurnal Ekuisci, 1(2). https://doi.org/10.62885/ekuisci.v1i2.99
Szymanek, A., & Wiśniewski, T. (2023). Digitalization of reporting standards on the capital markets (pp. 236–251). https://doi.org/10.4324/9781003310082-20
Trachuk, A., & Linder, N. (2023). Introduction of digital platforms by industrial companies as a source of competitive advantages. https://doi.org/10.17747/2618-947x-2023-1-18-32
Troshani, I. (2018). Transformation of accounting through digital standardisation. Accounting, Auditing & Accountability Journal, 5(1).
Vaishnav, B., & Ray, S. G. (2023). A thematic exploration of the evolution of research in multichannel marketing. Journal of Business Research, 157, 113564. https://doi.org/10.1016/j.jbusres.2022.113564
Winoto, A., Meiryani, M., & Reyhan, R. (2023). The impact of big data on financial reporting. Journal of Applied Finance & Accounting, 10(1). https://doi.org/10.21512/jafa.v10i1.9004
Yu, J., & Zhu, L. (2023). Opportunities and Challenges of Financial Accounting in the Era of Big Data. Highlights in Business, Economics and Management, 10, 464–468. https://doi.org/10.54097/hbem.v10i.8140
Zaharco, S. (2023). Security of Financial and Accounting Information in the Context of Digital Evolution. Económica. https://doi.org/10.53486/econ.2023.124.070
Zakharkinа, L. (2023). Digital opportunities to ensure the transparency of financial rela-tions in entrepreneurship. https://doi.org/10.46489/dotettof23-22
Zhang, X. (2023). The impact of digital finance on corporate labor productivity: evidence from Chinese-listed companies. Economia E Politica Industriale. https://doi.org/10.1007/s40812-023-00273-1