The Effect of Regulation Fair Disclosure on the Relevance of Conference Calls to Financial Analysts
Author | : Afshad J. Irani |
Publisher | : |
Total Pages | : 28 |
Release | : 2003 |
ISBN-10 | : OCLC:1290393321 |
ISBN-13 | : |
Rating | : 4/5 (21 Downloads) |
Download or read book The Effect of Regulation Fair Disclosure on the Relevance of Conference Calls to Financial Analysts written by Afshad J. Irani and published by . This book was released on 2003 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the effect of Regulation Fair Disclosure (FD) on the relevance of company-sponsored conference calls. Measuring relevance by a conference call's ability to improve analyst forecast accuracy and consensus, I find larger improvements in both variables during the period surrounding conference calls in the post-FD era versus the pre-FD era. These findings imply that in the post-FD era relatively more about a firm's upcoming earnings becomes known during conference calls, consistent with FD's success in eliminating selective disclosure.