Title：Media Richness in the Boardroom: Evidence from Meeting Formats and Information of Board Resolution Disclosure

Speaker: Yanting (Crystal) Shi, Assistant Professor, HEC Paris

Time：10:00-11:30, March 10th, 2026 (Tuesday)

Venue：Room 1008, Mingde Business Building (Zhongguancun Campus)

Language：Chinese & English

ABSTRACT:

Drawing on media richness theory, we investigate how board meeting formats influence the richness of information disclosed regarding board resolutions. Using data from Chinese listed firms, we operationalize information richness through measures of numerical precision and the comprehensiveness (length) of resolution disclosures. Our results show that face-to-face meetings yield disclosures with higher information richness compared to remote or hybrid meetings. To address endogeneity, we exploit extreme weather disruptions as an instrument for face-to-face meetings and the IV estimates support our baseline findings. Furthermore, we find that bid-ask spreads narrow following disclosures from face-to-face board meetings, suggesting that richer disclosures help reduce market information asymmetry. Descriptive evidence shows stronger associations when information demand is high or when communication frictions are greater.

SHORT BIOGRAPHY:

Crystal Shi, Ph.D., CPA, CMA, is an assistant professor at the accounting and management control department at HEC Paris. Her research bridges corporate governance and labor economics, delivering data-driven insights on boards, transparency, and inequality to regulators, investors, executives, directors, and employees.