Sentiment analysis and gender differences in earnings conference calls

Chiara De Amicis, Sonia Falconieri and Mesut Tastan

Journal of Corporate Finance, 2021, vol. 71, issue C

Abstract: We apply textual analysis to the transcripts of nearly 78,000 earnings conference calls between 2004 and 2018, comparing the difference in sentiment between female and male senior managers (CEOs and CFOs). We focus on two main measures of sentiment: tone and vagueness. Our contribution is twofold. Firstly, we show that female executives employ a more positive and less vague tone than their male colleagues during conference calls. The more positive and less vague tone of female executives does not reflect incremental information content but instead appears to be a linguistic feature that distinguishes female from male executives.

Keywords: Conference calls; CEO and CFO; Gender; Market reaction; Textual analysis (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:corfin:v:71:y:2021:i:c:s0929119920302534

DOI: 10.1016/j.jcorpfin.2020.101809

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