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Bridging the Information Gap: Quarterly Conference Calls as a Medium for Voluntary Disclosure

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  • Sarah C. Tasker

    (Cornell University)

Abstract

This paper uses the quarterly conference call as a disclosure metric to examine whether firms with less informative financial statements are more likely to respond by providing additional voluntary disclosure. After controlling for other characteristics of a firm's information environment, I find a significant inverse relation between measures of the informativeness of a firm's financial statements and the likelihood that the firm will use a quarterly conference call. This finding is consistent with the hypothesis in Verrecchia (1990) that the probability of disclosure of management's private information is negatively related to the precision of prior public information on firm value.

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  • Sarah C. Tasker, 1998. "Bridging the Information Gap: Quarterly Conference Calls as a Medium for Voluntary Disclosure," Review of Accounting Studies, Springer, vol. 3(1), pages 137-167, March.
    • Handle: RePEc:spr:reaccs:v:3:y:1998:i:1:d:10.1023_a:1009684502135
    DOI: 10.1023/A:1009684502135
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    References listed on IDEAS

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    1. Gibbons, Robert & Murphy, Kevin J, 1992. "Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 468-505, June.
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    3. Peter M. Clarkson & Jennifer L. Kao & Gordon D. Richardson, 1994. "The Voluntary Inclusion of Forecasts in the MD&A Section of Annual Reports," Contemporary Accounting Research, John Wiley & Sons, vol. 11(1), pages 423-450, June.
    4. Verrecchia, Robert E., 1983. "Discretionary disclosure," Journal of Accounting and Economics, Elsevier, vol. 5(1), pages 179-194, April.
    5. Verrecchia, Robert E., 1990. "Information quality and discretionary disclosure," Journal of Accounting and Economics, Elsevier, vol. 12(4), pages 365-380, March.
    6. Francis, J & Philbrick, D & Schipper, K, 1994. "Shareholder Litigation And Corporate Disclosures," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 32(2), pages 137-164.
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    Cited by:

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    2. Gilles Hilary, 2006. "Organized labor and information asymmetry in the financial markets," Review of Accounting Studies, Springer, vol. 11(4), pages 525-548, December.
    3. Mohamed Rashwan & Nardin Farouk & Rania Pasha, 2025. "Can ESG Strategies Drive Firm Value Growth in the MENA Region?," Sustainability, MDPI, vol. 17(17), pages 1-30, September.
    4. Fenling Gu & Boyuan Tian & Yixian Ma, 2025. "Dual Deterrent Effects of Randomized On‐Site Inspections on Voluntary Information Disclosure: Evidence From Voluntary Management Earnings Forecasts," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 46(7), pages 3783-3805, October.
    5. Cristi A. Gleason & Lillian F. Mills, 2008. "Evidence of differing market responses to beating analysts’ targets through tax expense decreases," Review of Accounting Studies, Springer, vol. 13(2), pages 295-318, September.

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