【讲座时间】2024年12月16日 10:00
【讲座地点】会计学院108室
【讲座主题】Enhancing Investor Engagement with AI-Summarized Disclosures
【嘉宾介绍】黄德尊，南加州大学教授
TJ is a professor at the University of Southern California Marshall School of Business. His research focuses on the institutions and corporate governance of listed firms in emerging markets. He has served as editor for The Accounting Review, associate editor for Management Science and editorial board member of several accounting journals. Prior to joining the University of Southern California, he served as the Dean of the School of Business at the Chinese University of Hong Kong.
【内容提要】
We conduct a field experiment where we provide investors with an AI-generated summary of annual reports during virtual conference calls. We find that providing investors with annual report summaries increases investor participation during the calls. Treatment firms with AI-generated summaries experience a 46% increase in the number of investor questions, relative to control firms. The content of investors' questions directed toward the treatment firms is more aligned with the topics presented in the summaries. The treatment firms’ questions are more likely to come from less experienced investors. The summaries lead management to provide longer and more detailed answers. The findings suggest that AI-generated summaries can lead to greater investor engagement by providing focal points for more vibrant conversations with management.
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