Evidenciação voluntária: Análise empírica sobre o tom usado em audioconferências

Felipe Ramos Ferreira, Diego Campana Fiorot, Fabio Motoki and Nadia Cardoso Moreira

RAE - Revista de Administração de Empresas, 2019, vol. 59, issue 4

Abstract: The study aims to perform the following two analyses for understanding the effect of a voluntary disclo­sure: 1) whether a company's performance is related to its voluntary disclosure in a conference call; and 2) whether the voluntary information is related to the future results of Brazilian companies. The tone of Brazilian firms with American Depositary Receipts (ADRs) (American Depositary Receipts) in the US market was measured between 2002 and 2016. The tone of managers was calculated in English using the original dictionary proposed by Loughran and McDonald (2011), as well as an adapted version in Portu­guese. The findings suggest a positive relation between the tone used by managers during conference call and firms’ current and future performance.

Date: 2019
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