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Shining moments: strategic timing of online earnings communication conference

Author

Listed:
  • Runmei Luo

    (Southwest Jiaotong University
    Service Science and Innovation Key Laboratory of Sichuan Province)

  • Yong Ye

    (Southwest Jiaotong University)

  • Jingxuan Li

    (Southwest Jiaotong University)

Abstract

This study is based on the Chinese context and investigates the strategic timing behavior of listed company managers in holding online earnings communication conferences (OECCs), as well as the motivations and economic consequences underlying this behavior. The results show that the better the performance of listed companies, the more likely managers are to convene OECCs during trading hours, suggesting that these conferences are strategically timed. This phenomenon is more pronounced in companies with more earnings management and weakens in companies with better internal control quality or stronger manager capabilities. Furthermore, attracting investor attention, increasing stock liquidity, and realizing appreciation in the value of stock holdings are the motivations behind managers’ timing of OECCs. Finally, the timing of OECCs can lead to more investor attention and stock liquidity, induce more insider trading, and generate a positive market reaction in the short term. However, it will increase stock price volatility and even crash risk in the medium to long term. This study presents new evidence on managers’ timing behavior, providing a reference for regulators to further improve the system of investor relations management.

Suggested Citation

  • Runmei Luo & Yong Ye & Jingxuan Li, 2025. "Shining moments: strategic timing of online earnings communication conference," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 15(2), pages 593-630, June.
    • Handle: RePEc:spr:eurasi:v:15:y:2025:i:2:d:10.1007_s40821-025-00309-7
    DOI: 10.1007/s40821-025-00309-7
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    More about this item

    Keywords

    Strategic timing; Online earnings communication conference; Investor attention; Stock price volatility; Crash risk;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions

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