Twitter as ‘bully pulpit’: Brazilian banking sector case

Roberto Tommasetti, Vinicius Mothé Maia and Marcelo Álvaro da Silva Macedo

Applied Economics Letters, 2021, vol. 28, issue 1, 61-64

Abstract: This paper investigates whether Brazilian President Bolsonaro’s bank-related tweets are perceived by the market as genuine news and, thus, affecting the related shares’ price or, at least, the negotiated volumes (noise case). No significant impact was detected, possibly due to the fact that (i) his tweets’ content is more political than market related; (ii) he has been in charge for less than one year and, consequently, the market is still in a ‘wait and see’ position; (iii) the local banking sector is very concentrated, being ‘politically resistant’, even to presidential tweets.

Date: 2021
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DOI: 10.1080/13504851.2020.1730753

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