La garantia soy yo! A influência do narcisismo digital dos CEOS na obtenção de equity crowdfunding

• Ano de defesa: 2025
• Autor(a) principal: Gondim-Rios, Eduardo
• Orientador(a): Cahen, Fernanda Cecilia Ribeiro
• Banca de defesa: Lopes, Evandro Luis, Vasconcelos, Silvio, Villas Boas, Artur, Bernardes, Roberto
• Tipo de documento: Tese
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Escola Superior de Propaganda e Marketing
• Programa de Pós-Graduação: Programa de Doutorado em Administração com Concentração em Gestão Internacional
• Departamento: ESPM::Pós-Graduação Stricto Sensu
• País: Brasil
• Palavras-chave em Português: internacionalização; estratégia; equity crowdfunding; crowdinvesting; narcisismo
• Palavras-chave em Inglês: internationalization; strategy; equity crowdfunding; crowdinvesting; narcissism
• Área do conhecimento CNPq: CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO
• Link de acesso: http://tede2.espm.br/handle/tede/875

This research investigates the impact of narcissism on the performance of equity crowdfunding campaigns through the concept of digital narcissism, operationalized by variables related to CEOs’ rhetoric and analyzed under the lenses of the Upper Echelons Theory and Signaling Theory. The literature identifies three central dimensions: volume of publications, frequency of exposure, and self-referential content. In the qualitative stage, more than 2,000 LinkedIn posts from 80 Brazilian CEOs were collected and analyzed, allowing the classification of executives into rhetorical groups defined by the combination of these factors. In the quantitative stage, the association between these profiles and campaign performance was investigated, measured by the number and profile of investors mobilized. In addition to digital publications, the empirical dataset included information from the Brazilian Securities and Exchange Commission (CVM) and investment platforms. The analyses employed LIWC for linguistic measurement and JASP software, with the application of linear regressions to test the hypotheses. The results contribute theoretically by consolidating the construct of digital narcissism and refining its measurement in digital environments through rhetoric. They also provide empirical evidence of the relationship between levels of digital narcissism and the ability to attract investors, showing how styles of digital communication influence the composition of the investor base in equity crowdfunding. On a practical level, the findings broaden the understanding of how CEOs’ digital exposure shapes the dynamics of fundraising campaigns, making it possible to identify which rhetorical traits are associated with the engagement of different investor profiles. This knowledge offers insights for future strategies in equity crowdfunding fundraising or internationalization processes, highlighting the relevance of digital communication as a strategic instrument in the entrepreneurial ecosystem.