Purpose: The purpose of this paper is to investigate whether financial companies of the USA are inclined to manipulate the management discussion and analysis (MD&A) tone and thus to follow impression management behaviours. Also, the paper proposes a tone analysis of MD&As conducted by comparing...

Research measures the reliability of audit firms in predi cting bankruptcy for US-listed financial institutions. Object of the analysis is the Going Concern Opinion (GCO), widely considered a bankruptcy warning signal to stakeholders. The sample is composed of 42 US- listed financial companies...