Do Managers Learn from Analyst Participation in Conference Calls?

• Main Authors: YONG, Amanda Aw Zhi Xin, CHO, Young Jun, YANG, Holly I.
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2022
• Subjects: conference calls; financial analysts; managerial learning; earnings forecasts; Accounting; Portfolio and Security Analysis
• Online Access: https://ink.library.smu.edu.sg/soa_research/1939; https://ink.library.smu.edu.sg/context/soa_research/article/2966/viewcontent/HARC_2022_paper_122.pdf
• Institution: Singapore Management University

While research finds that conference calls are informative to the market and analysts, they can also be informative to managers as analysts’ questions can provide a feedback effect. Using a sample of conference call transcripts from 2002 to 2018, we find that greater analyst participation, as measur...