Language and Management Forecasts around the World

Yuyan Guan; Zheng WANG; Franco Wong; Xiangang XIN

Language and Management Forecasts around the World

Yuyan Guan, Zheng WANG, Franco Wong, Xiangang XIN

Department of Accountancy

Research output: Conference Papers › RGC 33 - Other conference paper

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.

Original language	English
Publication status	Presented - 30 Oct 2020
Event	Invited academic seminar - The Chinese University of Hong Kong, Shenzhen, Shenzhen, China Duration: 30 Oct 2019 → … https://ge.cuhk.edu.cn/en/event/12313

Seminar

Seminar	Invited academic seminar
Country/Territory	China
City	Shenzhen
Period	30/10/19 → …
Internet address	https://ge.cuhk.edu.cn/en/event/12313

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title = "Language and Management Forecasts around the World",

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.",

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AU - Wong, Franco

AU - XIN, Xiangang

N1 - Information for this record is supplemented by the author(s) concerned.

PY - 2020/10/30

Y1 - 2020/10/30

N2 - 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.

AB - 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.

UR - https://ge.cuhk.edu.cn/en/event/12313

M3 - RGC 33 - Other conference paper

T2 - Invited academic seminar

Y2 - 30 October 2019

ER -

Language and Management Forecasts around the World

Abstract

Seminar

Bibliographical note

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