Earnings Call Vocal Biometrics Dataset for Investors

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Empirical support for vocal scores over various holding periods.  Across the Russell 3000, these signals show statistically significant relationships with subsequent stock returns, even after controlling for text sentiment and traditional financial variables. The results confirm that vocal leakage during high-stakes communication, especially in Q&A is a meaningful investable source of information. 

 M&A calls occur at moments of high strategic and financial consequence, often immediately after deal announcements when executives have had little time to rehearse. These calls reveal management’s true conviction about valuation, synergies, integration risk, and competitive positioning. Because the stakes are high and the messaging is less polished than on earnings calls, vocal and linguistic leakage is more likely—and more informative. 

 SCA is the only platform that systematically extracts voice-based conviction signals from M&A calls across the entire public-company universe. By anchoring every executive to their personal behavioral baseline, SCA identifies when deal explanations diverge from typical communication patterns. This enables investors to isolate which parts of a merger narrative exhibit stress or confidence, creating a new source of differentiated insight for traditional, systematic, merger-arb and event-driven strategies.