Does Temporal Immediacy Impact Investors’ Judgments? It Depends on Communication Mode
通过两个实验发现，在文本沟通中，管理者使用时间即时性描述好消息会增加投资者的投资意愿，但在音频/视频沟通中这种效应消失。
ABSTRACT Temporal immediacy is the perceived closeness of an event or action in time and is impacted by linguistic choices, like grammatical tense and active/passive voice. Even when two statements have similar semantic meanings, variation in temporal immediacy can convey different feelings of closeness. For example, managers can use temporal immediacy to describe good news to make it seem closer and more likely. However, it is unclear whether discussing future positive news with immediacy (i.e., the “favorable” use of temporal immediacy) will influence investors’ judgments and whether this varies with communication mode. In two experiments, we find that favorable temporal immediacy increases investment willingness in text but not audio/video communications. Our findings have implications for investors, managers, and regulators, suggesting that reliance on text communications may lead to undue influence of linguistic features, such as temporal immediacy, and that audio/video communications will reduce the perceived closeness induced by these linguistic features. Data Availability: Please contact the authors. JEL Classifications: M41; C91; D91; G11; G41.