How social media usage by managers affects corporate value : the case of Elon Musk

• Autor(a) principal: Corte, Miguel Alexandre Barbeira
• Data de Publicação: 2020
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10400.14/31326
• topic: Social media; Twitter; Stock price; Sentiment; Celebrity CEO; Redes sociais; Preço das ações; Sentimento; CEO celebridade; Domínio/Área Científica::Ciências Sociais::Economia e Gestão

The emergence of social media has revolutionized the world where this innovation has erased boundaries, created a new reality and brought color to people’s lives. Online platforms have an effect similar to an epidemic, since almost everyone who uses the Internet is present on social networks. Initially, this worldwide phenomenon started by providing freedom of expression to its users, allowing them to be architects and creators of content, promoting themselves on a large scale, having greater visibility and more exposure. Everybody is interconnected through this virtual world. So, social networks have become a privilege not only for the CEOs, who can use them to make announcements about companies and new events, to promote actions of solidarity and Corporate Social Responsibility, but it also gave organizations the opportunity to be closer to their customers and receiving their feedback more easily, publicizing their products and services more efficiently. The constant use of social media has led to an increase of free information, which has driven investors to analyze the sentiment and opinions expressed in these platforms, and determine whether there is any relationship between the emotion intrinsic to the message broadcasted and the stock price changes. This dissertation aims to demonstrate that CEOs’ online messages on social media can influence not only their reputation, integrity and credibility, but also affect stock prices. Elon Musk's tweets are used as a reference to verify whether online posts on Twitter have an impact on investors’ opinions and trigger movements on the stock market or not.