Reação do mercado acionário aos tons transcritos das teleconferências de resultados

Autores

DOI:

https://doi.org/10.1590/S0034-759020220107

Palavras-chave:

Teleconferências de resultados, tom, retorno anormal, analistas buy-side e sell-side, representantes corporativos.

Resumo

Este estudo tem como objetivo analisar os diferentes tons transcritos utilizados pelos participantes nas teleconferências de resultados e sua influência na geração de retornos anormais das ações. Este estudo preenche uma lacuna de pesquisa que é a segregação da análise do tom por tipo de analista e de representantes corporativos durante a teleconferência de resultados. A amostra abrangeu o período de 2010 a 2017, totalizando 1.165 transcrições de teleconferências de resultados de 44 empresas brasileiras listadas na B3 – Brasil, Bolsa, Balcão. O principal achado é que o tom transcrito e as palavras utilizadas com base no dicionário de Loughran e McDonald (2011) têm poder de previsão significativo sobre as reações do mercado de ações após as teleconferências de resultados.

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Publicado

2021-12-13

Como Citar

MENEZES DA FONSECA TONIN, J.; SCHERER, L. M. . Reação do mercado acionário aos tons transcritos das teleconferências de resultados . RAE-Revista de Administração de Empresas, [S. l.], v. 62, n. 1, p. 1–18, 2021. DOI: 10.1590/S0034-759020220107. Disponível em: https://bibliotecadigital.fgv.br/ojs/index.php/rae/article/view/85099. Acesso em: 18 jan. 2022.