Sana Ben Cheikh, Hanen Amiri and Nadia Loukil
This study examines the impact of social media investor sentiment on the stock market performance through qualitative and quantitative proxies.
Abstract
Purpose
This study examines the impact of social media investor sentiment on the stock market performance through qualitative and quantitative proxies.
Design/methodology/approach
The authors use a sample of daily stock performance related to S&P 500 Index for the period from December 18, 2017, to December 18, 2018. The social media investor sentiment was assessed through qualitative and quantitative proxies. For qualitative proxies, the study relies on three social media resources”: Twitter, Trump Twitter account and StockTwits. The authors proposed 3 methods to reflect investor sentiment. For quantitative proxies, the number of daily messages published from Trump Twitter account and StockTwits is considered as a signal of investor sentiment. For regression model, the study adopts the autoregressive distributed lagged to determine the relationships between the nonstationary series.
Findings:
Empirical findings provide evidence that quantitative measures of investor sentiment have significant effects on S&P’500 performances. The authors find that Trump's tweets should be interpreted with caution. The results also show that the number of Trump's tweets on t−1 day have a positive effect on performance on day t.
Practical implications
Social media sentiment contains information for predicting stock returns and transaction activity. Since, the arrival of new information in capital markets triggers investor sentiment on social media.
Originality/value
This study investigates the investors’ sentiment through social media and explores quantitative and qualitative measures. The amount of information on social media reflects more the investor sentiment than content analysis measures.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-12-2022-0818
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Sana Ben Cheikh and Nadia Loukil
The purpose of this paper is to examine the effect of the presence of political connections on firm performance through related party transactions in Tunisia, a country where that…
Abstract
Purpose
The purpose of this paper is to examine the effect of the presence of political connections on firm performance through related party transactions in Tunisia, a country where that is characterized by the Jasmin revolution in 2011.
Design/methodology/approach
The study uses a sample of nonfinancial firms between 2008 and 2014 listed on the Tunis Stock Exchange and uses generalized least squares on panel data.
Findings
First, the political connection and related parties' transaction enhances firm's market performance. Second, the study reveals that political connection moderates the relationship between the related party transactions and firm performance only in the period after revolution. Indeed, politicians seem to have used related party transactions to expropriate firms in a period of political instability. Finally, we show that politicians are more attracted by firms with higher market performance and with higher number of related parties' transactions.
Practical implications
The empirical findings contribute to the current debate on the benefits and costs of political connections in emerging economies. It shows that political connections enhance market valuation of firms. However, political connection costs appear during political instability period.
Originality/value
This study addresses the interaction between related party transactions, political connections and firm performance. It is the first study to test if the related party transactions are used as a tool by politicians to expropriate firms.
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Kaouther Kooli, Hamida Skandrani, Ediz Edip Akcay and Malek Sghaier
Sana Tebessi, Amal Ben Cheikh and Mariem Dali
In line with the growing trend of companies focusing on achieving sustainable development goals (SDGs), this research paper aims to propose a classification of values of socially…
Abstract
Purpose
In line with the growing trend of companies focusing on achieving sustainable development goals (SDGs), this research paper aims to propose a classification of values of socially responsible companies aligned with the SDGs that these companies could fulfill.
Design/methodology/approach
The authors’ carried out a qualitative semiotic analysis of four companies as part of the corporate environmental communication initiative to focus on the corporate values conveyed in the messages. Using thematic analysis, the authors’ identified the SDGs achieved by their actions. By coding the values and the SDGs, the authors’ performed a top-down hierarchical classification, linking the value system to the SDGs.
Findings
This research unveils various relationships between corporate communication values and the practical implementation of specific SDGs. This paper sheds light on the central role of utilitarian values in achieving SDGs 7, 8, 9, 10, 11 and 13 and highlights the importance of existential values in reaching SDGs 8, 9, 10, 12, 11 and 17. Conversely, no utilitarian values contribute to the realization of SDGs 7, 8, 11, 13 and 17, while no existential values enable the achievement of SDGs 7, 12, 13 and 17.
Originality/value
This research makes a valuable contribution to the achievement of the SDGs by adopting a streamlined approach that aligns with specific company values. The classification of values by SDG provides an in-depth understanding of commitments toward these goals and promotes more coherent integration into corporate culture and business practices. This approach ensures that sustainable progress is aligned with the values communicated in their long-term strategy, enabling businesses to effectively address crises.