【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 anAI-generated summary of annual reports during virtual conference calls.We find that providing investors with annual report summaries increasesinvestor participation during the calls. Treatment firms withAI-generated summaries experience a 46% increase in the number ofinvestor questions, relative to control firms. The content of investors'questions directed toward the treatment firms is more aligned with thetopics presented in the summaries. The treatment firms’ questions aremore likely to come from less experienced investors. The summaries leadmanagement to provide longer and more detailed answers. The findingssuggest that AI-generated summaries can lead to greater investorengagement by providing focal points for more vibrant conversations withmanagement.
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