The spillover effects of managers' evasiveness: Evidence from earnings communication conferences

被引：0
|
作者：
Yang, Baochen [1 ]
Ren, Xiaoning [1 ]
Liu, Yifang [2 ,3 ]
机构：
[1] Tianjin Univ, Coll Management & Econ, Tianjin, Peoples R China
[2] Tianjin Univ Technol, Sch Management, Tianjin, Peoples R China
[3] 391 Bin Shui Xi Dao Rd, Tianjin 300384, Peoples R China
来源：
ACCOUNTING AND FINANCE | 2024年 / 64卷 / 03期
基金：
中国国家自然科学基金;
关键词：
earnings communication conferences; managers' evasiveness; spillover effects; textual analysis; INFORMATION TRANSFERS; AGENCY COSTS; DISCLOSURE; EXTERNALITIES; DEBT;
D O I：
10.1111/acfi.13234
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We investigate how managers' evasiveness affects peer firms' stock returns. Managers' evasiveness is measured by the degree of managers' irrelevant answers and non-answers during earnings communication conferences. Our results show that peer firms' investors react negatively to managers' evasiveness. Moreover, we find that the spillover effects are stronger for peer firms with lower information transparency, and the leading firms with a higher market power or a higher leverage ratio.
引用
收藏
页码：2789 / 2815
页数：27
相关论文
共 50 条
  • [1] Earnings communication conferences and post-earnings-announcement drift: Evidence from China
    Yang, Baochen
    Liu, Yifang
    Su, Yunpeng
    ACCOUNTING AND FINANCE, 2023, 63 (02): : 2145 - 2185
  • [2] Share pledges, tone of earnings communication conferences, and market reaction: evidence from China
    Zhao, Wanlong
    Zhang, Wei
    Xiong, Xiong
    Zou, Gaofeng
    ACCOUNTING AND FINANCE, 2019, 59 (05): : 2817 - 2853
  • [3] Management equity incentives and tone management of earnings communication conferences: evidence from China
    Guan, Jingyi
    Wen, Xueying
    Liu, Eping
    JOURNAL OF APPLIED ACCOUNTING RESEARCH, 2025,
  • [4] The spillover effects of labor regulations on the structure of earnings and employment: Evidence from occupational licensing
    Dodini, Samuel
    JOURNAL OF PUBLIC ECONOMICS, 2023, 225
  • [5] Managerial myopia and corporate social responsibility:Evidence from the textual analysis of chinese earnings communication conferences
    Ding, Hui
    Jiang, Fuwei
    Zhang, Shan
    Zhang, Zhining
    JOURNAL OF BEHAVIORAL AND EXPERIMENTAL FINANCE, 2024, 41
  • [6] How informative is question-and-answer similarity to financial analysts? Evidence from Chinese earnings communication conferences
    Liu, Qigui
    Chi, Wenqiang
    Wang, Junyi
    ECONOMIC MODELLING, 2024, 135
  • [7] Evidence from auditors about managers' and auditors' earnings management decisions
    Nelson, MW
    Elliott, JA
    Tarpley, RL
    ACCOUNTING REVIEW, 2002, 77 : 175 - 202
  • [8] Pressure from words: The tone of investors in Chinese earnings communication conferences and managerial myopia
    Luo, Runmei
    Ye, Yong
    ACCOUNTING AND FINANCE, 2024, 64 (01): : 833 - 868
  • [9] Discussion of evidence from auditors about managers' and auditors' earnings management decisions
    Gibbins, M
    ACCOUNTING REVIEW, 2002, 77 : 203 - 211
  • [10] Gender difference in CFO communication: Evidence from earnings calls
    Klevak, Julia
    Livnat, Joshua
    Suslava, Kate
    JOURNAL OF ACCOUNTING AND PUBLIC POLICY, 2024, 44
12345