This paper investigates the differential responses by managers to institutional investors during site visits and to retail investors during online Q&As. We find that the gap in firms' responses to different types of investors increases the potential for comment letters to be sent to firms and...

This paper investigates the differential responses by managers to institutional investors during site visits and to retail investors during online Q&As. We find that the gap in firm responses to different types of investors increases the potential for comment letters to be sent to firms and...