Explanatory Factors of Presentations to Analysts in Spanish Firms
Isabel Martínez Conesa
Manuel Larrán Jorge
Presentations to analysts are used by listing companies in order to disclose information and avoid the undervaluation of their securities. The aim of this paper is to analyse the use of presentations to analysts in the Spanish Capital Market and the determinants of the decision to hold these presentations. Our empirical study was performed on the Spanish companies listed in the Madrid Stock Exchange. We found evidence indicating that the decision to hold presentations for analysts is related to the size of the company. In addition, we verify that the firms listed in IBEX 35 and with Investor Relations departments are more likely to host these meetings.
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