Earnings Conference Calls and Stock Returns: The Incremental Informativeness of Textual Tone PoorSatisfactoryGoodVery GoodExcellent Be the first. (0 ratings) Log in to rate this article. CFA Digest May 2012 | Vol. 42 | No. 2 | 3 pages Source: CFA InstituteS. McKay Price James S. Doran David R. Peterson Barbara A. BlissNatalie Schoon, CFA (Reviewer) Read Abstract Corporate disclosures are increasingly being announced via quarterly earnings conference calls. In addition to factual information, language and tone play an important role in predicting abnormal returns and trading volume. Earnings surprises over the 60 days following the call can be attributed largely to the tone of the call, particularly for firms that do not pay dividends. View more information Topics Behavioral Finance : Institutional Investor Decision Making | Equity Investments : Fundamental Analysis (Sector, Industry, Company) and the Valuation of Individual Equity Securities | Corporate Finance : Corporate Governance Credits · About the CE Program 0 CE (including 0 SER) Record credits Credits recorded Members, log in to record your credits. Manage CE Credits People who viewed this page also viewed: Top Hedge Fund Investors: Stories, Strategies, and Advice This book chronicles top hedge fund investors that played key roles in the industry, including substantial information on manager sourcing, ... More Loading ...