26 January

Vocal Reciprocity in Earnings Conference Calls

We would like to invite you to the next seminar of the series „Big Data Never Sleeps”. This time our Guest will be Oleksandr (Sasha) Talavera from University of Birmingham and he will present a paper "Vocal Reciprocity in Earnings Conference Calls" (joint work with Mao Zhang, University of St Andrews and Shuxing Yin, University of Sheffield).

Date of the seminar: 26.01.2023 (Thursday), 16:00-17:00 (Warsaw time)

Form: online in MS Teams, registration link you can find HERE.

Abstract: This paper explores the interpersonal vocal communication of managers with analysts during earnings conference calls. We apply a novel machine learning technique to a sample of more than 600,000 earnings call Q&As to generate vocal emotion measures. We show evidence of emotionally reciprocal interactions in analyst-manager conversations. Negative questions asked by analysts are likely to evoke negative vocal responses from managers. This vocal reciprocity is stronger when the respondent manager is female, but weaker when the analyst is new to the firm and when the analyst dialogues with the CEO or with an older manager. We also document that analysts incorporate emotionally charged information when forecasting earnings.

The link to the article can be found HERE.

Ph.D. Oleksandr (Sasha) Talavera

Oleksandr (Sasha) Talavera is a Professor of Financial Economics at the Department of Economics, Birmingham Business School, University of Birmingham. He holds a Ph.D in Economics from European University Viadrina in Germany. He is broadly interested in empirical corporate finance, online prices, big data analytics, banking, international finance, and emerging market economies. He is also one of the co-founders of https://voxukraine.org/, an independent analytical platform that focuses on economics, governance and social development of Ukraine.