أعرض في EDS

Manager-analyst conversations in earnings conference calls

التفاصيل البيبلوغرافية
العنوان: Manager-analyst conversations in earnings conference calls
المؤلفون: Venky Nagar, Jordan Schoenfeld, Jason V. Chen
المصدر: Review of Accounting Studies. 23:1315-1354
بيانات النشر: Springer Science and Business Media LLC, 2018.
سنة النشر: 2018
مصطلحات موضوعية: 050208 finance, ComputingMilieux_THECOMPUTINGPROFESSION, Earnings, Financial economics, 05 social sciences, 050201 accounting, General Business, Management and Accounting, Tone (literature), Corporate finance, Visual evidence, Accounting, 0502 economics and business, Business, Duration (project management), Period (music), Stock (geology), Public finance
الوصف: Prior research finds that intraday stock prices move considerably during the discussion period of earnings conference calls. In this study, we explore what features of the manager-analyst dialogue during the discussion drive these price movements. We textually analyze the tone of managers and analysts and find that intraday prices react significantly to analyst tone, but not to management tone, for the full duration of the discussion. This effect strengthens when analyst tone is relatively negative. We then present intraday visual evidence that analysts are more neutral than managers over the call and that the tones of both parties drift downward as the call progresses. Overall, our findings illustrate how manager-analyst information exchanges evolve on earnings calls and indicate that analysts are the participants on earnings calls whose comments move stock prices during the discussion.
تدمد: 1573-7136
1380-6653
URL الوصول: https://explore.openaire.eu/search/publication?articleId=doi_________::af4b352e03b1b5984cf7eb8ce6c8e525
https://doi.org/10.1007/s11142-018-9453-3
حقوق: CLOSED
رقم الأكسشن: edsair.doi...........af4b352e03b1b5984cf7eb8ce6c8e525
قاعدة البيانات: OpenAIRE
الوصف
تدمد:15737136
13806653