Do Conference Calls Affect Analysts' Forecasts?

By Robert M. Bowen, Angela K. Davis, Dawn A. Matsumoto. 2002

393 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/1de09053711f236b55f024924c78fea0e7e27776

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Citations in the corpus

Regulation Fair Disclosure, Analyst Following and Analyst Forecast Dispersion (2003, background): “Using conference call data from the pre-FD era, Bowen et al. (2002) find that information availability is negatively correlated with analyst forecast dispersion.”
Knowledge, Compensation, and Firm Value: An Empirical Analysis of Firm Communication (2014, neutral): “6 A partial list of such studies includes Tasker (1998), Frankel et al. (1999), Bowen et al. (2002), Bushee et al. (2003), Kimbrough (2005), Mayew (2008), Hollander et al. (2010), Hobson et al. (2011), and Mayew and Venkatachalam (2012).”
Can Investors Detect Managers' Lack of Spontaneity? Adherence to Predetermined Scripts during Earnings Conference Calls (2016, positive): “…et al. 2003; Bushee, Matsumoto, and Miller 2004, Lansford, Lee, and Tucker 2009), improvements in analyst forecast accuracy following the call (Bowen et al. 2002), more timely incorporation of earnings news into prices for firms initiating conference calls (Kimbrough 2005), and a reduction in…”
Asymmetric Information and Dividend Policy (2008, neutral): “Bowen, Davis, and Matsumoto (2002) show that conference calls improve analyst forecast precision and reduce forecast dispersion, and Chen and Matsumoto (2006) find that better access to management is associated with more accurate analyst forecasts.”
The Impact of Regulation Fair Disclosure: Trading Costs and Information Asymmetry (2004, result): “Results in Bowen, Davis, and Matsumoto (2002) also support these findings. ulatory changes.”
Do Analysts Understand the Economic and Reporting Complexities of Derivatives (2016, neutral): “By extension, these (and other) factors influence forecast dispersion, which reflects the difference of opinion among individual analysts as well as the aggregate uncertainty they have about firm fundamentals (Barron et al. 1999; Bowen et al. 2002).”
Aggregate and Idiosyncratic Political Risk: Measurement and Effects (2016, neutral): “…managers’ and non-corporate call participants’ discussions typically center around uncertainties that the firm is facing (Hollander et al. (2010); Bowen et al. (2002); Matsumoto et al. (2011); Huang et al. (2016)).3 For our lobbying data, we take advantage of the Lobbying Disclosure Act of…”