TWEETS' ANALYSIS AROUND FINANCIAL STATEMENTS' RELEASE

Objective: Testing the relationship between the tweets' content and the information contained in the financial statements. Background: Social media (SM) has become part of people's daily lives, and with this interaction, their content can reach a large number of people efficiently. Brazil ranks fifth in the world regard-ing active Twitter users, with approximately 12.5 million. Consequently, there are academic stud-ies in finance aiming to measure the impact of these social media on the capital market, remarka-bly, the share price. Parallel to this, other studies have shown a strong relationship between prices and financial statements.Method: A mixed approach was chosen, where the quantitative analysis will be carried out by a study of events to identify the companies that had some abnormal return, whether positive or neg-ative, and once these companies are identified, the content of the tweets of these selected compa-nies will be analyzed by using the qualitative model of categorical content analysis.Results: The content of the tweets of the selected companies through their abnormal returns around their financial statements' disclosure showed a weak relationship between the content of the tweets and the abnormal returns arising from the publication of the accounting information of the analyzed companies.Contributions: Given the large number of individual investors migrating to the equity market, understanding the behaviour of an additional variable that impacts the capital market is a relevant contribution to society.