Conference Calls: an Empirical Analysis of Information Content and the Type of Disclosed News
Autor(a) principal: | |
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Data de Publicação: | 2016 |
Outros Autores: | , , |
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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BBR. Brazilian Business Review (English edition. Online) |
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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 |
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1754732237007355904 |