Abstract
Earnings communication conference serves as a key channel for information disclosure in China, providing incremental information to the capital market. Using data from Chinese A-share listed firms from 2007 to 2021, this research reveals that management's tone at the earnings communication conference significantly promotes trade credit financing. Mechanism tests suggest that management's tone facilitates trade credit financing by enhancing information transparency. Further analyses demonstrate that the aforementioned effect is more pronounced for firms facing higher market competition and supplier concentration while lower level of attention from analysts.
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