International Journal of

Business & Management Studies

ISSN 2694-1430 (Print), ISSN 2694-1449 (Online)
DOI: 10.56734/ijbms
The Information Content of the Target Price Adjusted By Foreign Investors-Comparison between Traditional Media and Social Media


The media has developed rapidly in recent years. The adjustment of target price is the important basis of investors when they make a decision of investment. This research explores the information content of the target price set up by foreign investors, which was released through social media and traditional media from June 2017 to June 2018. This research utilizes event study to determine whether if the investors get profits or not. The empirical result shows that the target price cannot provide significant abnormal returns to investors.