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Retail execs underplay current performance to investors - but why?

In quarterly earnings calls with investors and analysts, some retail managers may underplay how their companies are actually performing, according to recent research by Kenneth Froot and colleagues.


Retail executives aren’t always giving stockholders the straight scoop about the financial standing of their companies in comments around earnings announcements—and some may be providing misleading information, potentially for their own benefit.


That’s the upshot of new research by retired Harvard Business School finance professor Kenneth A. Froot in the April working paper What Do Measures of Real-Time Corporate Sales Tell Us about Earnings Surprises and Post-Announcement Returns?


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