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Conference Calls and Stock Price Volatility in the Post†Reg FD Era

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  • Alberto Dell'Acqua
  • Francesco Perrini
  • Stefano Caselli

Abstract

Past research has documented that the utilisation of conference calls is greater in the high tech sector than in other industries. Do high tech firms benefit from that? This study attempts to answer this question by examining the impact of ‘post†Reg FD’ conference calls on the price volatility of high tech firms listed in the US market. We find evidence that more open conference calls results in lower idiosyncratic volatility.

Suggested Citation

  • Alberto Dell'Acqua & Francesco Perrini & Stefano Caselli, 2010. "Conference Calls and Stock Price Volatility in the Post†Reg FD Era," European Financial Management, European Financial Management Association, vol. 16(2), pages 256-270, March.
    • Handle: RePEc:bla:eufman:v:16:y:2010:i:2:p:256-270
    DOI: 10.1111/j.1468-036X.2008.00444.x
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    2. Gharbi, Sami & Sahut, Jean-Michel & Teulon, Frédéric, 2014. "R&D investments and high-tech firms' stock return volatility," Technological Forecasting and Social Change, Elsevier, vol. 88(C), pages 306-312.
    3. Alessandro Carretta & Vincenzo Farina & Elvira Anna Graziano & Marco Reale, 2013. "Does Investor Attention Influence Stock Market Activity? The Case of Spin-Off Deals," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Alessandro Carretta & Gianluca Mattarocci (ed.), Asset Pricing, Real Estate and Public Finance over the Crisis, chapter 1, pages 7-24, Palgrave Macmillan.
    4. Marco Caiffa & Vincenzo Farina & Lucrezia Fattobene, 2021. "CEO Duality: Newspapers and Stock Market Reactions," JRFM, MDPI, vol. 14(1), pages 1-18, January.
    5. María Gutiérrez & Nino Papiashvili & Josep A. Tribó & Antonio B. Vazquez, 2020. "Managerial incentives for attracting attention," European Financial Management, European Financial Management Association, vol. 26(4), pages 896-937, September.

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