Breuer, Wolfgang; Knetsch, Andreas; Salzmann, Astrid Juliane - In: Journal of business ethics : JBE 166 (2020) 3, pp. 473-488
This paper investigates whether managerial rhetoric in the Management Discussion and Analysis section of 10-K filings can help gauge the level of managerial opportunism in a firm. We find that the use of trust-related words is connected to inefficient investment decisions and poor operating...