Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed News

Detalhes bibliográficos
Autor(a) principal: Moreira, Nadia Cardoso
Data de Publicação: 2016
Outros Autores: Ramos, Felipe, Kozak-Rogo, Juliana, Rogo, Rafael
Tipo de documento: Artigo
Idioma: eng
por
Título da fonte: BBR. Brazilian Business Review (English edition. Online)
Texto Completo: http://www.bbronline.com.br/index.php/bbr/article/view/99
Resumo: This article analyzes whether the type of news and the earnings persistence influence the amount of information that is voluntarily disclosed by the companies. As a proxy for voluntary disclosure we use the information content of the conference calls of the companies listed on the BM&F Bovespa from 2008 to 2015. The results indicate that the companies with bad news provide more information during the conference call (presentation section and questions & answers section) than the companies with good news. Moreover, were found evidence that the companies with less persistent positive earnings provide a larger amount of information than the companies with more persistent positive earnings. Regarding companies with negative earnings we did not find any relation between persistence and the informational content.
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spelling Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed NewsConference Calls: uma Análise Empírica do Conteúdo Informacional e do Tipo de Notícia DivulgadaInformation contentVoluntary disclosureConference callsGood and bad newsPersistenceConteúdo informacionalDisclosure voluntárioConference callsBoas e más notíciasPersistênciaThis article analyzes whether the type of news and the earnings persistence influence the amount of information that is voluntarily disclosed by the companies. As a proxy for voluntary disclosure we use the information content of the conference calls of the companies listed on the BM&F Bovespa from 2008 to 2015. The results indicate that the companies with bad news provide more information during the conference call (presentation section and questions & answers section) than the companies with good news. Moreover, were found evidence that the companies with less persistent positive earnings provide a larger amount of information than the companies with more persistent positive earnings. Regarding companies with negative earnings we did not find any relation between persistence and the informational content.Este artigo analisa se o tipo de notícia e a persistência dos resultados influenciam na quantidade de informações voluntárias divulgadas pelas empresas. Como proxy para divulgações voluntárias foi utilizado o conteúdo informacional das conference calls das empresas listadas na BM&F Bovespa entre os anos de 2008 a 2015. Os resultados indicam que empresas com más notícias entregam mais informações durante a conference call (seção de apresentação e seção de perguntas e respostas) do que empresas com boas notícias. Adicionalmente, foram encontradas evidências de que as empresas com resultados positivos e transitórios entregam um volume maior de informação do que as empresas com resultados positivos e permanentes. No que tange a empresas com resultados negativos não foi possível ser identificado relação entre a persistência e o conteúdo informacional divulgado.FUCAPE Business Shool2016-11-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewed ArticleArtigo revisado pelos paresapplication/pdfapplication/pdfhttp://www.bbronline.com.br/index.php/bbr/article/view/9910.15728/bbr.2016.13.6.6Brazilian Business Review; Vol. 13 No. 6 (2016): November to December 2016; 291-315Brazilian Business Review; v. 13 n. 6 (2016): Novembro a Dezembro de 2016; 291-3151808-23861807-734Xreponame:BBR. Brazilian Business Review (English edition. Online)instname:Fucape Business School (FBS)instacron:FBSengporhttp://www.bbronline.com.br/index.php/bbr/article/view/99/142http://www.bbronline.com.br/index.php/bbr/article/view/99/143Moreira, Nadia CardosoRamos, FelipeKozak-Rogo, JulianaRogo, Rafaelinfo:eu-repo/semantics/openAccess2018-10-31T19:04:44Zoai:ojs.pkp.sfu.ca:article/99Revistahttps://www.bbronline.com.br/index.php/bbr/indexONGhttp://www.bbronline.com.br/index.php/bbr/oai|| bbronline@bbronline.com.br1808-23861808-2386opendoar:2018-10-31T19:04:44BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)false
dc.title.none.fl_str_mv Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed News
Conference Calls: uma Análise Empírica do Conteúdo Informacional e do Tipo de Notícia Divulgada
title Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed News
spellingShingle Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed News
Moreira, Nadia Cardoso
Information content
Voluntary disclosure
Conference calls
Good and bad news
Persistence
Conteúdo informacional
Disclosure voluntário
Conference calls
Boas e más notícias
Persistência
title_short Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed News
title_full Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed News
title_fullStr Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed News
title_full_unstemmed Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed News
title_sort Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed News
author Moreira, Nadia Cardoso
author_facet Moreira, Nadia Cardoso
Ramos, Felipe
Kozak-Rogo, Juliana
Rogo, Rafael
author_role author
author2 Ramos, Felipe
Kozak-Rogo, Juliana
Rogo, Rafael
author2_role author
author
author
dc.contributor.author.fl_str_mv Moreira, Nadia Cardoso
Ramos, Felipe
Kozak-Rogo, Juliana
Rogo, Rafael
dc.subject.por.fl_str_mv Information content
Voluntary disclosure
Conference calls
Good and bad news
Persistence
Conteúdo informacional
Disclosure voluntário
Conference calls
Boas e más notícias
Persistência
topic Information content
Voluntary disclosure
Conference calls
Good and bad news
Persistence
Conteúdo informacional
Disclosure voluntário
Conference calls
Boas e más notícias
Persistência
description This article analyzes whether the type of news and the earnings persistence influence the amount of information that is voluntarily disclosed by the companies. As a proxy for voluntary disclosure we use the information content of the conference calls of the companies listed on the BM&F Bovespa from 2008 to 2015. The results indicate that the companies with bad news provide more information during the conference call (presentation section and questions & answers section) than the companies with good news. Moreover, were found evidence that the companies with less persistent positive earnings provide a larger amount of information than the companies with more persistent positive earnings. Regarding companies with negative earnings we did not find any relation between persistence and the informational content.
publishDate 2016
dc.date.none.fl_str_mv 2016-11-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
Artigo revisado pelos pares
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://www.bbronline.com.br/index.php/bbr/article/view/99
10.15728/bbr.2016.13.6.6
url http://www.bbronline.com.br/index.php/bbr/article/view/99
identifier_str_mv 10.15728/bbr.2016.13.6.6
dc.language.iso.fl_str_mv eng
por
language eng
por
dc.relation.none.fl_str_mv http://www.bbronline.com.br/index.php/bbr/article/view/99/142
http://www.bbronline.com.br/index.php/bbr/article/view/99/143
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv FUCAPE Business Shool
publisher.none.fl_str_mv FUCAPE Business Shool
dc.source.none.fl_str_mv Brazilian Business Review; Vol. 13 No. 6 (2016): November to December 2016; 291-315
Brazilian Business Review; v. 13 n. 6 (2016): Novembro a Dezembro de 2016; 291-315
1808-2386
1807-734X
reponame:BBR. Brazilian Business Review (English edition. Online)
instname:Fucape Business School (FBS)
instacron:FBS
instname_str Fucape Business School (FBS)
instacron_str FBS
institution FBS
reponame_str BBR. Brazilian Business Review (English edition. Online)
collection BBR. Brazilian Business Review (English edition. Online)
repository.name.fl_str_mv BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)
repository.mail.fl_str_mv || bbronline@bbronline.com.br
_version_ 1754732237007355904

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