Professor Oleksandr Talavera, University of Birmingham   

"Beyond words; Manager Emotional Resilience and Financial Markets"
Wednesday, 28 May 2025. 15:00-16:30
Room 141B, Adam Smith Business School 

Abstract

To what extent does managers' emotional resilience - maintaining composure and positivity under public pressure - affect market reactions? Analyzing manager-analyst interactions during earnings conference calls, we show that managers' emotional resilience, expressed through vocal and verbal cues in response to analysts' tough questions, amplifies investor reactions to positive earnings news. However, when firms have negative earnings news, analysts incorporate vocal resilience, but not verbal responses into earnings forecasts and stock recommendations. We also observe that female managers are more vocally susceptible to analysts' negative emotions, a pattern not mirrored in verbal responses. Our findings contribute to understanding the impact of managerial communication under public pressure and have implications for the enhancement of corporate disclosure practices.

Bio

Oleksandr Talavera is a Professor of Financial Economics, University of Birmingham. He received his B.A. at Ostroh Academy (Ukraine), M.A. at EERC (Ukraine), M.A. at Boston College, and his Ph.D. at the European University Viadrina (Germany). Prior to joining the faculty at the University of Birmingham, Sasha worked for Swansea University, the University of Sheffield, Durham University, the University of East Anglia, Robert Gordon University, and DIW-Berlin. He is broadly interested in social media, online prices, big data analytics, banking, international finance, and emerging market economies. Oleksandr's work was published in leading economics journals ( e.g., American Economic Review, Journal of European Economic Association, European Economic Review).

 

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First published: 25 April 2025

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