The Impact of the Disclosure in Social Media (Facebook) Sites on the Volume of Trading for Public Shareholding Companies Listed on the Amman Stock Exchange

This study aims at identifying the effect of disclosure on social media sites (Facebook) on the trading volume of public shareholding companies listed on the Amman Stock Exchange. To achieve the goal of the study, the descriptive analytical method was used, whereby the study population consisted of all of the (196) public shareholding companies listed on the Amman Stock Exchange. A preliminary survey was conducted to find out which companies have an account on social media sites (Facebook), and it was found that there are (55) companies. Then, the accounts of these companies were browsed for the previous three years to determine the companies that disclose them, and it turned out that their number (12) companies distributed over (3) sectors to represent the study sample, i.e. (21.82%) of the total number of public shareholding companies listed on the Amman Stock Exchange, which they have pages on a Facebook account, and the most disclosed items were net profit and share price as they were approved as independent variables, and to analyze the study data collected about the share price disclosure dates and net profit (independent variables) and trading volume (dependent variable) was used (Eviews, 7.0). The study found that there is an impact of disclosure on social media sites (Facebook) on the total trading volume of public joint-stock companies listed on the Amman Stock Exchange regarding disclosure of net profit and share price, and the study recommended several recommendations, the most important of which are: Inviting the Securities Commission to compel companies to disclose on Social media sites (Facebook), because of its impact on increasing the trading volume of the stock market, which leads to an increase in investment, thus an increase in underwriting.