Instagram: Balancing Information Asymmetry of the Tourism Industry


  • Josué Gutiérrez-Barroso Universidad de La Laguna, San Cristóbal de La Laguna, Santa Cruz de Tenerife
  • Alberto Javier Báez-García Universidad La Laguna, San Cristóbal de La Laguna, Santa Cruz de Tenerife
  • Francisco Flores-Muñoz Universidad de La Laguna, Puerto de la Cruz, Santa Cruz de Tenerife
  • Diego Valentinetti University "G. d'Annunzio" of Chieti-Pescara



social network sites; information asymmetry; tourism; Instagram; corporate disclosure.


This study focuses on the use of Instagram by tourism companies. Specifically, it aims to analyze how Instagram empowers individuals over corporations in the digital dialogue, thus balancing the information asymmetry between corporations and stakeholders. Four categories of metrics have been collected to analyze the use of Instagram by companies: presence, impact, conversation, and influence. Additionally, OLS regressions have been performed to identify potential explanatory factors to explain the different behavior of each firm and its corresponding communities. While the use of Instagram by the selected firms is still scarce, significant results are as follows: corporations are using Instagram as an additional channel in their current communication; some explanatory factors account for significant differences in countries, size, and industries; and users are somehow reactive to the stream of pictures and texts disclosed by firms. The presence and impact of companies on Instagram are a highly important source for driving stakeholders’ conversation within the digital arena.

Author Biographies

Josué Gutiérrez-Barroso, Universidad de La Laguna, San Cristóbal de La Laguna, Santa Cruz de Tenerife

Faculty of Education

Alberto Javier Báez-García, Universidad La Laguna, San Cristóbal de La Laguna, Santa Cruz de Tenerife

Faculty of Economics, Business and Tourism

Francisco Flores-Muñoz, Universidad de La Laguna, Puerto de la Cruz, Santa Cruz de Tenerife

Iriarte University College

Diego Valentinetti, University "G. d'Annunzio" of Chieti-Pescara

Department of Economic studies


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How to Cite

Gutiérrez-Barroso, J., Báez-García, A. J., Flores-Muñoz, F., & Valentinetti, D. (2021). Instagram: Balancing Information Asymmetry of the Tourism Industry. Scientific Annals of Economics and Business, 68(4), 445–457.




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