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Working online or offline: Which is more effective?

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  • Li, Yi
  • Zhang, Wei
  • Wang, Pengfei

Abstract

Teleworking is becoming increasingly prevalent due to the rapid technological development and the spread of COVID-19. Despite the great convenience, questions about its productivity arise. Using regression analysis and difference-in-differences analysis, this study examines the effectiveness of teleworking by comparing the informativeness of analysts’ online and offline corporate visits. An empirical analysis shows that analysts’ forecasts are accurate after offline visits. This finding suggests that teleworking is less productive than on-site work. We further exclude explanations on fatigue and affiliation and confirm this finding’s robustness with alternative forecast performance measures. Additionally, teleworking impacts forecast accuracy based on analyst experience, resources, firm visibility, and transparency. Our results reveal a potential channel through which the COVID-19 crisis influences capital market transparency and overall economic output.

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  • Li, Yi & Zhang, Wei & Wang, Pengfei, 2021. "Working online or offline: Which is more effective?," Research in International Business and Finance, Elsevier, vol. 58(C).
    • Handle: RePEc:eee:riibaf:v:58:y:2021:i:c:s0275531921000775
    DOI: 10.1016/j.ribaf.2021.101456
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    Cited by:

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    2. Wang, Richard & Ye, Zhongnan & Lu, Miaojia & Hsu, Shu-Chien, 2022. "Understanding post-pandemic work-from-home behaviours and community level energy reduction via agent-based modelling," Applied Energy, Elsevier, vol. 322(C).
    3. Jabeen, Fauzia & Kaur, Puneet & Talwar, Shalini & Malodia, Suresh & Dhir, Amandeep, 2022. "I love you, but you let me down! How hate and retaliation damage customer-brand relationship," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    4. Andrea Vinueza-Cabezas & Gabriel Osejo-Taco & Alejandro Unda-López & Clara Paz & Paula Hidalgo-Andrade, 2022. "A Comparison of Working Conditions and Workers’ Perceptions among On-Site, Telework, and Hybrid Workers in Ecuador during the COVID-19 Pandemic," IJERPH, MDPI, vol. 19(21), pages 1-13, November.

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    More about this item

    Keywords

    Teleworking; Analyst forecasts; Corporate visits; Information acquisition;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • L84 - Industrial Organization - - Industry Studies: Services - - - Personal, Professional, and Business Services

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