Using Social Networking Sites (SNS) for Corporate Governance: an analysis of corporate communications from companies of “New Market” tier at Brazilian Stock Exchange (B3)
Investors have broadly used Social Networking Sites (SNS) as a mean of spreading information that they can potentially use to support investment decisions. Also, several content generators dedicate themselves to discussing market trends, commentating on specific stocks performances, or even teaching techniques to operate on stock markets. Regarding these aspects, this paper aims to comprehend how Brazilian public companies are using SNS for communication with their current and potential investors. Therefore, we have developed qualitative research, exploratory and descriptive, using data from 146 companies listed on B3’s "New Market", the tier with the highest corporate governance level in Brazil. Our main finding is that Brazilian public companies virtually do not use SNS for corporate governance activities, such as communication with investors and financial information disclosures. For practitioners, this research reveals a great opportunity for companies to start developing processes, policies and best practices to implement SNS for corporate governance.
Lucas, Durval and Nechar, João Vitor, "Using Social Networking Sites (SNS) for Corporate Governance: an analysis of corporate communications from companies of “New Market” tier at Brazilian Stock Exchange (B3)" (2021). ISLA 2021 Proceedings. 3.