Business

Studying the impact of profitability, bankruptcy risk, and pandemic on narrative tone in annual reports in an emerging market in the East

B. T. H. Le and C. V. Nguyen

This research conducted by Binh Thi Hai Le and Cong Van Nguyen delves into how profitability, bankruptcy risk, and the COVID-19 pandemic impact the narrative tone of annual reports in Vietnam, revealing surprising insights about tone management during economic challenges.

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Playback language: English

Index

Abstract

This paper investigates the influence of profitability, bankruptcy risk, and the COVID-19 pandemic on the narrative tone of annual reports in Vietnam. Using regression analysis (OLS, REM, FEM, FGLS), bootstrapping, and SGMM, the study finds that high profitability correlates with increased positive and net tone, while bankruptcy risk is associated with more negative tone. The pandemic initially led to increased positive and negative tones, followed by a greater use of positive tone after stabilization. The findings suggest that companies do not consistently use impression management to hide information during economic hardship. This research offers valuable insights for investors interpreting management disclosures.

Publisher

Humanities and Social Sciences Communications

Published On

Oct 29, 2024

Authors

Binh Thi Hai Le, Cong Van Nguyen

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