Managerial and Investor Responses to Disclosure Regulation: The Case of Reg Fd and Conference Calls

By Brian J. Bushee, Dawn A. Matsumoto, Gregory S. Miller. 2004

296 citations recorded by the source corpus.

Subfields: Accounting, Management Information Systems

View Paper: https://www.semanticscholar.org/paper/8a992f322dd74f2248807a6edde9975ecf2024e5

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Citations in the corpus

Have Financial Markets Become More Informative (2016, unknown): “However, Bushee, Matsumoto, and Miller (2004) provide evidence that disclosure remained constant or even increased after the passage of Reg.”
Effects of an Advancing Tenure on CEO Cognitive Complexity (2020, background): “Investment analysts have an incentive to ask unexpected questions during these calls (Hong and Kubik 2003, Bushee et al. 2004, Chen and Matsumoto 2006), so the CEOs are unable to fully rehearse or polish their answers; thus, their answers should be relatively reflective of their cognitive processes.”
Shareholder Litigation and Changes in Disclosure Behavior (2009, unknown): “Conference Call and Earnings Forecast Frequency We follow the prior conference call literature (Bowen et al., 2002; Bushee et al., 2004) by focusing on earnings-related conference calls.”
Seeing is believing: analysts’ corporate site visits (2016, background): “2008), and in the closed conference calls after earnings announcements (Bushee et al. 2004).”
Private Earnings Guidance and its Implications for Disclosure Regulation (2007, background): “34 These cross-sectional differences in the way firms change their public disclosure rates after Reg FD contrast with the Bushee et al. (2004) conclusion that there is limited cross-sectional variability in Reg FD’s effects on the conference call element of firms’ disclosure policies.”
Analyst Coverage and Earnings Management (2008, background): “…be potentially reduced after the Regulation Fair Disclosure Act of 2000, which prohibits firms from making selective, nonpublic disclosures to favored investment professionals (for example, Bailey, Lin, and Zhong, 2003; Bushee, Matsumoto, and Miller, 2004; and Agrawal, Chadha, and Chen, 2006).”
Regulation Fair Disclosure and Earnings Information: Market, Analyst, and Corporate Responses (2003, background): “Bushee et al. (2002) document changes in the use and impact of conference calls.”
The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research (2015, background): “For instance, Bushee et al. (2004) show that firms switch from closed to open conference calls.”
Professional Investor Relations within the Firm (2014, background): “…FD had a direct impact on areas related to key strategic goals of IR: disclosure, analyst following, institutional investor ownership, liquidity, and market valuation (Heflin et al. 2003; Bushee et al. 2004; Gintschel and Markov 2004; Eleswarapu et al. 2004; Mohanram and Sunder 2006; Wang 2007).”