Banca de DEFESA: RENATA ALEXIA DE BRITO SOUZA
Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.STUDENT : RENATA ALEXIA DE BRITO SOUZA
DATE: 30/07/2024
TIME: 09:00
LOCAL: meet.google.com/fps-ztge-itz
TITLE:
I am looking for you: Investor attention and the stock returns of Brazilian publicly traded companies.
KEY WORDS:
Investor Attention; Investment Return; Google Trends.
PAGES: 46
BIG AREA: Ciências Sociais Aplicadas
AREA: Administração
SUBÁREA: Ciências Contábeis
SUMMARY:
This study aims to analyze the impact of investor attention on the stock returns of companies listed on the Brazilian stock exchange (B3), using Google Trends data to measure popularity through company tickers and names. The methodology involves panel data analysis, employing regression models to assess the relationship between popularity, as measured by Google Trends, and stock returns across different time horizons: weekly, monthly, quarterly, semi- annual, and annual. The sample includes B3-listed companies with financial and popularity data from 2018 to 2023. The analysis revealed that popularity, as measured by Google Trends, does not show a significant relationship with cumulative returns over the analyzed period, except for weekly returns. Additionally, trading volume did not exhibit a significant relationship with cumulative returns. In contrast, market capitalization, price-to-book ratio, price-to-earnings ratio, return on assets (ROA), and the SELIC rate demonstrated significant relationships with cumulative returns. Companies with higher market capitalization and higher market valuations tend to have better returns, while higher interest rates are associated with better returns. The analysis was conducted using panel regressions to control for fixed and random effects, providing a more robust examination of the variables across different periods. The results suggest that while online popularity may reflect short-term public interest, financial and economic factors play a more significant role in determining stock returns.
COMMITTEE MEMBERS:
Presidente - 2814007 - RENATO HENRIQUE GURGEL MOTA
Interno - 1543333 - ANDERSON LUIZ REZENDE MOL
Externo à Instituição - ALEXSANDRO GONÇALVES DA SILVA PRADO