東華大學圖書館 |

Language: English

Help

回圖書館首頁

手機版館藏查詢

Back

Switch To: Labeled | MARC Mode | ISBD

Essays on Textual Information in Cor...

Park, Gitae,

Linked to FindBook

Google Book

Amazon

博客來

Essays on Textual Information in Corporate Disclosure /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays on Textual Information in Corporate Disclosure // Gitae Park.
Author:	Park, Gitae,
Description:	1 electronic resource (163 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 85-06, Section: B.
Contained By:	Dissertations Abstracts International85-06B.
Subject:	Success. -
Online resource:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=30728117
ISBN:	9798381022223

Essays on Textual Information in Corporate Disclosure /
Park, Gitae,

Essays on Textual Information in Corporate Disclosure /Gitae Park. - 1 electronic resource (163 pages)

Source: Dissertations Abstracts International, Volume: 85-06, Section: B.

Textual information in various corporate disclosures, despite its unstructured feature, provides useful information beyond numeric information contained in financial statements such as earnings and cash flows. Using textual analysis methods, I examine how firms convey their textual information to users and how their communication impacts capital market and business decisions. This dissertation consists of two self-contained studies. Chapter 2 examines the real effects of a UK disclosure mandate that, with the aim of enhancing performance reporting, requires a subset of London Stock Exchange firms to describe their strategic aspects of value creation, such as business models and strategies, in their annual reports. Using an instrumented difference-in-differences design, I find that compliance with this initiative, evidenced by more disclosures of performance measures and commentaries relating to business operations and strategies, promotes intangible investments. My analysis of external and internal control systems suggests that enhanced performance reporting promotes investments because it attracts long-term investors and reduces CEO pay sensitivity to earnings performance. Chapter 3 examines management discussion of accruals and cash flows in earnings call. Using earnings call transcripts of S&P 500 firms, I extract cash flows and earnings measures within management presentation and calculate the weighted average of accruals attention. I find that relative emphasis on accruals varies with the ability of accruals addressing the mismatching problem of cash flows and the limitation of accruals. However, I also find that relative emphasis on accruals also reflects managerial incentives to downplay unfavorable information and that such abnormal emphasis on accruals predicts one year ahead poor performance. The return analysis shows that the negative signal of abnormal emphasis on accruals is not incorporated into stock prices immediately. The evidence suggests that abnormal emphasis on accruals may obscure true picture of periodic performance and influence investors' decision-making. Combined together, the two studies contribute to the accounting literature by deepening our understanding of business communication reflected in financial texts and the incentives and behaviours of managers and investors.

English

ISBN: 9798381022223Subjects--Topical Terms:

518195
Success.

Essays on Textual Information in Corporate Disclosure /
LDR:03636nmm a22004213i 4500 001 2430391
005 20250519115954.5
006 m o d
007 cr|nu||||||||
008 261011s2023 miu||||||m |||||||eng d
020 $a 9798381022223
035 $a (MiAaPQD)AAI30728117
035 $a (MiAaPQD)Lancaster_200662
035 $a AAI30728117
040 $a MiAaPQD $b eng $c MiAaPQD $e rda
100 1 $a Park, Gitae, $e author. $3 3818679
245 1 0 $a Essays on Textual Information in Corporate Disclosure / $c Gitae Park.
264 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2023
300 $a 1 electronic resource (163 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertations Abstracts International, Volume: 85-06, Section: B.
500 $a Advisors: Young, Steve.
502 $b Ph.D. $c Lancaster University (United Kingdom) $d 2023.
520 $a Textual information in various corporate disclosures, despite its unstructured feature, provides useful information beyond numeric information contained in financial statements such as earnings and cash flows. Using textual analysis methods, I examine how firms convey their textual information to users and how their communication impacts capital market and business decisions. This dissertation consists of two self-contained studies. Chapter 2 examines the real effects of a UK disclosure mandate that, with the aim of enhancing performance reporting, requires a subset of London Stock Exchange firms to describe their strategic aspects of value creation, such as business models and strategies, in their annual reports. Using an instrumented difference-in-differences design, I find that compliance with this initiative, evidenced by more disclosures of performance measures and commentaries relating to business operations and strategies, promotes intangible investments. My analysis of external and internal control systems suggests that enhanced performance reporting promotes investments because it attracts long-term investors and reduces CEO pay sensitivity to earnings performance. Chapter 3 examines management discussion of accruals and cash flows in earnings call. Using earnings call transcripts of S&P 500 firms, I extract cash flows and earnings measures within management presentation and calculate the weighted average of accruals attention. I find that relative emphasis on accruals varies with the ability of accruals addressing the mismatching problem of cash flows and the limitation of accruals. However, I also find that relative emphasis on accruals also reflects managerial incentives to downplay unfavorable information and that such abnormal emphasis on accruals predicts one year ahead poor performance. The return analysis shows that the negative signal of abnormal emphasis on accruals is not incorporated into stock prices immediately. The evidence suggests that abnormal emphasis on accruals may obscure true picture of periodic performance and influence investors' decision-making. Combined together, the two studies contribute to the accounting literature by deepening our understanding of business communication reflected in financial texts and the incentives and behaviours of managers and investors.
546 $a English
590 $a School code: 0416
650 4 $a Success. $3 518195
650 4 $a Asymmetry. $3 3562922
650 4 $a Decision making. $3 517204
650 4 $a Finance. $3 542899
650 4 $a Statistics. $3 517247
690 $a 0272
690 $a 0310
690 $a 0508
690 $a 0454
690 $a 0796
690 $a 0463
710 2 $a Lancaster University (United Kingdom). $e degree granting institution. $3 3815477
720 1 $a Young, Steve $e degree supervisor.
773 0 $t Dissertations Abstracts International $g 85-06B.
790 $a 0416
791 $a Ph.D.
792 $a 2023
856 4 0 $u https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=30728117