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Language and Management Forecasts around the World

  • Prof. Guan Yuyan
  • 2019.10.21
  • Event
Speaker: Prof. Guan Yuyan (City University of Hong Kong)

Topic:

Language and Management Forecasts around the World

 

Time&Date: 

 10:30 am -12:00 pm, 2019/10/30 (Wednesday)

Venue:

 Room W202, Administration Building

Speaker:

Prof. Guan Yuyan (City University of Hong Kong)

Abstract:

We predict that investors who speak weak future-time reference (FTR) languages are more concerned about the future prospects of the companies they invest in and, hence, demand more forward-looking information from these companies. We find that firms in weak-FTR language countries exhibit a greater propensity and frequency of issuing management forecasts. Within the same countries, firms with more foreign institutional ownership from weak-FTR countries issue more management forecasts than their counterparts. After having their shares traded in the stock market of a weak-FTR country, foreign firms from strong-FTR countries significantly increase their management forecast propensity and frequency.