A STUDY ON INVESTOR’S PERCEPTION OF DISCLOSURE PRACTICES AMONG FINANCIAL INFLUENCERS IN CHENNAI CITY
  https://doi.org/10.65725/JCMCE/2/4/009
JOURNAL OF CONTEMPORARY TRENDS IN MANAGEMENT, COMMERCE AND ECONOMICS (JCMCE) 
ISSN: 3108-3501
Volume 2 Issue 4, October -December 2026

Abstract:
The rapid digitization of financial services combined with increased use of social media have radically transformed the way retail investors consume and receive financial information. Even though financial influencers had already emerged prior to COVID 19, the pandemic acted as a crucial accelerator of their growth and visibility. Lockdown forced retail investors to rely on digital channels, a favourable environment for growth of social media based financial information. Platforms such as Youtube, Instagram, LinkedIn and other social media platforms increasingly became popular sources of financial education, investment ideas, financial markets information and recommendations. This development has improved accessibility of financial information, while also raising issues regarding transparency and authenticity of information provided by financial influencers. One such prominent concern associated with financial influencer content is disclosure practices. A financial influencer might be involved in affiliations, collaborations, paid promotions, brand partnerships, all of which may influence the information they share with their followers. Inadequate disclosure of such relationships may make it challenging for investors to discern between independent financial information and commercially motivated content. In 2025, a survey conducted by CFA Institute with over 1,600 Indian Retail Investors revealed that only 2% of financial influencers were registered with SEBI, while 33% of them publicly provided stock recommendations. Notably, a staggering 63% of the financial influencers did not disclose their sponsorships or affiliations. In the subsequent year, despite SEBI’s 2025 disclosure protocol being enforced, registrations have increased only 6% whilst the proportion of unregistered financial influencers providing investment advice have remained the same. Although legal and regulatory obligations surrounding financial influencers have changed, investors’ ability to recognise and understand a particular disclosure remains largely unexplored. The present study focuses on investor’s perception of disclosure practices among financial influencers, focusing on four objectives: (1) whether investors notice the disclosure elements (2) how investors evaluate adequacy and clarity of such disclosures and (3) the relationship between disclosure visibility and investor trust. The data for the study was gathered using a well structured questionnaire and the responses were evaluated using SPSS tools.

Authors: Ms. Swetha R, Dr. S. Santhi

Keywords: Investor Perception, Financial Influencers, Disclosure Practices, Transparency, Investor Trust,  Social Media Platforms..