Banca de DEFESA: Arthur Mesquita Camargo

Uma banca de DEFESA de DOUTORADO foi cadastrada pelo programa.
STUDENT : Arthur Mesquita Camargo
DATE: 14/06/2024
TIME: 10:00
LOCAL: Link da reunião meet.google.com/dus-jmik-xkd
TITLE:

IMPACT OF LIVE STREAMING ON SOCIAL MEDIA ON THE BRAZILIAN CAPITAL MARKET

KEY WORDS:

Disclosure; Social Media Lives; Web Scraping; Text mining; Event Study.

PAGES: 138
BIG AREA: Ciências Sociais Aplicadas
AREA: Administração
SUBÁREA: Ciências Contábeis
SUMMARY:

This study investigates corporate disclosure through social media, with an emphasis on live broadcasts, and its impact on investor decisions. Based on a systematic review of 99 highly relevant articles published between 2007 and 2022, the study initially shows that voluntary disclosure on social media differs from traditional methods and results in multidirectional interactions and a phenomenon of involuntary disclosure. Subsequently, the work is dedicated to investigating live broadcasts conducted on social media, demonstrating that these can have positive, albeit volatile, impacts on stock prices, more likely to occur when the CEO participates, the subject involves discussion of results, and the company has low coverage. The research also examined the effects of the social media environment on the level of formality and tone of the information from executives disclosing quarterly financial information by comparison between the quarterly disclosure made through traditional conference calls and those disclosed through lives on social media. The results of the tests showed that, despite the informality of lives on social networks, executives adopt a more cautious and negative tone when disclosing financial results, compared to conference calls, seeking self-control and prevention of misinterpretations, aligned with previous studies. Finally, the research also analyzes the market reaction to the tones and sentiments of executives participating in lives on social media and their influence on stock return behavior. The empirical test results based on event studies showed that both the tone of the executives and the sentiment in the lives are positively related to abnormal stock returns. The work proves important in showing that social media, especially lives, play a significant role in corporate communication and can significantly affect investor decisions, and should be considered by companies in their disclosure strategies.

COMMITTEE MEMBERS:
Interno - 6404897 - CESAR AUGUSTO TIBURCIO SILVA
Externo à Instituição - DIMAS MATEUS FAZIO - NUS
Externo à Instituição - JEDSON PEREIRA PINTO - UTD
Presidente - 1999345 - JOSE ALVES DANTAS
Interno - 1363469 - PAULO ROBERTO BARBOSA LUSTOSA