MARKET REACTION TO THE TONES OF EARNINGS CONFERENCE CALLS

被引：0
|
作者：
da Fonseca Tonin, Joyce Menezes [1 ,2 ]
Scherer, Luciano Marcio [3 ,4 ]
机构：
[1] Univ Estadual Maringa, Dept Ciencias Contabeise, Maringa, Parana, Brazil
[2] Univ Estadual Maringa, Programa Posgrad Ciencias Contabels, Maringa, Parana, Brazil
[3] Univ Fed Parana, Dept Ciencias Contabeise, Curitiba, Parana, Brazil
[4] Univ Fed Parana, Programa Posgrad Contabilidade, Curitiba, Parana, Brazil
来源：
RAE-REVISTA DE ADMINISTRACAO DE EMPRESAS | 2022年 / 62卷 / 01期
关键词：
Earnings conference calls; tone; abnormal return; buy-side and sell-side analysts; corporate representatives; STOCK RETURNS; DISCLOSURE; PRESENTATIONS; INFORMATION; ANALYSTS;
D O I：
10.1590/S0034-759020220107x
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study analyzes the different tones used by the participants in earnings conference calls and the influence on the generation of abnormal stock returns. This study fills the research gap of the segregation of tone analysis by type of analyst and corporate administratives during earnings conference calls. The sample covered the period from 2010 to 2017, totaling 1165 earnings conference calls transcripts from 44 Brazilian companies listed in B3 - Brasil, Bolsa, Balcao. The main finding is that the transcribed tone and words based on the Loughran & McDonald (2011) dictionary, have significant predictive power over stock market reactions after earnings conference calls.
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收藏
页数：18
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