A RELAÇÃO ENTRE A QUANTIDADE DE REPORTAGENS ENVOLVENDO EMPRESAS DO SETOR BANCÁRIO, E O VOLUME DE AÇÕES NEGOCIADAS DESTAS EMPRESAS

Abstract

This research discusses how the quantity of news articles published about banking companies can influence their traded share volumes. The financial market is sensitive to any disclosed information, so often not only the event itself but also how the fact is disclosed can impact the transaction volume. A theory that confirms this is the availability heuristic, which states that the human mind defines the probability of an event occurring based on the ability to recall past events. To proceed with the research, a survey was conducted to obtain the monthly amount of news published in Google search records, while the monthly volume of traded shares of analyzed banks from January 2018 to December 2021 was obtained on the stock exchange website. Subsequently, using Granger causality test, it was possible to verify the existence of causality between the variables of news articles and traded share volumes for some banks. It was also possible to verify that there was no causality between the volume of traded shares and the number of news articles for all researched banks. Therefore, even though for some banks, the volume of news articles indicated causality with traded share volumes.