Broker-hosted investor conferences

T. Clifton Green, Russell Jame, Stanimir Markov, Musa Subasi

Research output: Contribution to journalArticlepeer-review

79 Scopus citations


We examine the determinants and consequences of broker-hosted investor conferences. We find the number of brokers hosting a firm at conferences is positively related to institutional ownership and intangible assets, consistent with greater client demand for management access among hard-to-value firms. Younger firms and those that issue equity in the future attend more conferences, suggesting firms view conference participation as a means to enhance investor recognition. Hosting brokers are rewarded with increased commission revenue. Commission share increases by 0.61% during the conference week, with larger increases following more informative conference disclosures. Firms also benefit from conference participation. In the subsequent year, conference firms are followed by an additional 0.34 analysts, undergo a 6% reduction in bid-ask spread, and experience a 0.03 increase in Tobin's q.

Original languageEnglish
Pages (from-to)142-166
Number of pages25
JournalJournal of Accounting and Economics
Issue number1
StatePublished - Aug 2014


  • Brokerage research
  • Corporate disclosures
  • Institutional trading
  • Investor conferences
  • Investor relations

ASJC Scopus subject areas

  • Accounting
  • Finance
  • Economics and Econometrics


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