Previous research analyzes the relationship between corporate social responsibility (CSR) performance and the tone of a single report. Noting that reporting attributes and financial performance may influence managers’ disclosure decisions, we investigate how CSR performance at different...

We investigate whether managers strategically choose the tone of non-financial information disclosure based on performance and their motivations. We use 14,400 firm-year MD&As of companies listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2008 to 2019. The results show tone...

We examine whether the analysts can identify the managers’ tone management behavior conveyed through the management discussion and analysis section of corporate annual reports. We find that analysts can effectively identify the managers’ upward tone management behavior and lower their...

Recent studies in managerial accounting point out that the firms do not fully ratchet up the managers' future performance targets based on their past performance. This study offers a novel theoretical perspective on the firm's executive compensation strategy that supports such latest empirical...

We study manufacturing firms' asymmetric inventory investment in response to sales changes. Focusing on the costs of resource adjustment and stockout which likely differ in sales-increasing and sales-decreasing periods, we predict and find that inventory investment declines less during periods...