Conference Calls and Stock Price Volatility in the Post‐Reg FD Era
研究美国高科技公司电话会议对股价波动的影响，发现更开放的电话会议能降低公司特质波动。
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.