When Managers Speak, Markets Listen: Price Discovery during Analyst/Investor Days
Date : Jeudi | 2026-11-12 à 12h30 Lieu : Salle des thèses Lien TEAMS : Cliquez ici pour rejoindre le séminaire du LÉO Olga Kolokolova (Lancaster University) We study how markets incorporate information released during Analyst/Investor Days, multi-hour corporate disclosure events comprising managerial presentations and a Q&A session. Aligning sentence-timestamped transcripts with tick-level trades and quotes for 2,490 U.S. events from 2014 to 2025, we show that 80% of the event-window return is incorporated before the Q&A begins. Price adjustment occurs […]