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The Opinion of a Digital Influencer and the Investment Decision When Accounting Information is Available

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  • Lyss Paula de Oliveira
  • César Augusto Tibúrcio Silva

Abstract

This study investigates the effect of a digital influencer’s negative opinion on people’s investment decisions in a company. We conducted an experiment with 281 participants, randomly allocating them into one of two conditions. In the experimental group, participants received comprehensive information about the company, and a digital influencer expressed criticism in a video they watched. Conversely, in the control group, participants were provided solely with financial information about the company. Subsequently, we solicited participants to assess the company and reveal their investment intentions. The results indicated that the participants in the experimental condition had a lower evaluation of the company than those in the control condition. They also disagreed more with the company’s growth prospects and showed less willingness to invest, aligning with the influencer’s opinion. Factors such as gender, age, education level, or investment experience did not moderate the effect of the influencer. This study provides insights into the role and impact of digital influencers in the business domain and reveals that they can shape public perception of specialized accounting information. It examines how they influence our communication and underscores the importance of regulatory awareness of their activities.

Suggested Citation

  • Lyss Paula de Oliveira & César Augusto Tibúrcio Silva, 2025. "The Opinion of a Digital Influencer and the Investment Decision When Accounting Information is Available," SAGE Open, , vol. 15(3), pages 21582440251, August.
  • Handle: RePEc:sae:sagope:v:15:y:2025:i:3:p:21582440251369597
    DOI: 10.1177/21582440251369597
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