000			01994nab a2200229 a 4500
999			_c199508 _d199508
003			OSt
005			20200226102037.0
008			191219s20162013xxu||||| |||| 00| 0 eng d
040			_aCO-BoUGC _cCO-BoUGC
100	1		_aBrochet, François _9177962
245	1	4	_aThe capital market consequences of language barriers in the conference calls of non-U.S. firms _cFrançois Brochet, Patricia Naranjo & Gwen Yu
300			_aPáginas 1023 a la 1049
520	3		_aWe examine how language barriers affect the capital market reaction to information disclosures. Using transcripts from non-U.S. firms' English-language conference calls, we find that the calls of firms in countries with greater language barriers are more likely to contain non-plain English and erroneous expressions. For non-U.S. firms that hire an English-speaking manager, we find less use of non-plain English and fewer erroneous expressions. Calls with a greater use of non-plain English and more erroneous expressions show lower intraday price movement and trading volume. The capital market responses to non-plain English and erroneous expressions are more negative when the firm is located in a non-English-speaking country and has more English-speaking analysts participating in the call. Our results highlight that, when disclosure happens verbally, language barriers between speakers and listeners affect its transparency, which, in turn, impacts the market's reaction.
650	1	4	_991036 _aContabilidad _vPublicaciones seriadas
650	2	4	_aComunicación intercultural _vPublicaciones seriadas _9177963
650	2	4	_aComunicación multilingüe _vPublicaciones seriadas _9177964
650	2	4	_aEmpresas internacionales _vPublicaciones seriadas _9177965
700	1		_aNaranjo, Patricia _9177966
700	1		_aYu, Gwen _9177967
773	0		_082265 _9372884 _aThe accounting review 2016 V.91 No.4 (Jul) _o0000002030403 _x0001-4826 (papel) _h27 páginas _nIncluye tablas, referencias bibliográficas y apéndices
942			_2ddc _cART