Can Investors Detect Managers' Lack of Spontaneity? Adherence to Predetermined Scripts during Earnings Conference Calls

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Analyst Information Discovery and Interpretation Roles: A Topic Modeling Approach (2018, unknown): “For example, Li et al. (2015) show that 61% of analyst recommendation revisions are issued within three days of corporate events; Livnat and Zhang (2012) find that 74% of analyst forecast revisions promptly follow corporate events; Altınkılıç and Hansen (2009) claim that almost 80% of recommendation”
Measuring Corporate Culture Using Machine Learning (2020, background): “Electronic copy available at: https://ssrn.com/abstract=3256608 6 interactive nature, which allows for more extemporaneous disclosures targeting specific concerns raised by call participants (Frankel, Johnson, and Skinner 1999; Matsumoto, Pronk, and Roelofsen 2011; Lee 2016).”
Hyperbole or Reality? Investor Response to Extreme Language in Earnings Conference Calls (2019, background): “FLS Proportion of sentences in the earnings call containing a forward-looking term, from Muslu, Radhakrishnan, Subramanyam, and Lim (2015). Earnings calls are from: https://seekingalpha.com/ Risk Proportion of sentences in the earnings call containing at least one of the riskrelated terms, from Krav”