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A longitudinal study of the textual characteristics in the chairman’s statements of Guinness: An impression management perspective

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A longitudinal study of the textual characteristics in the chairman’s statements of Guinness : An impression management perspective. / Moreno, Alonso; Jones, Michael John; Quinn, Martin.

In: Accounting, Auditing and Accountability Journal, Vol. 32, No. 6, 23.08.2019, p. 1714-1741.

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Moreno, Alonso ; Jones, Michael John ; Quinn, Martin. / A longitudinal study of the textual characteristics in the chairman’s statements of Guinness : An impression management perspective. In: Accounting, Auditing and Accountability Journal. 2019 ; Vol. 32, No. 6. pp. 1714-1741.

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@article{916a8bf8756c4432b09fcdd61cbb5efb,
title = "A longitudinal study of the textual characteristics in the chairman’s statements of Guinness: An impression management perspective",
abstract = "Purpose: The purpose of this paper is to longitudinally analyse the evolution of multiple narrative textual characteristics in the chairman’s statements of Guinness from 1948 to 1996, with the aim of studying impression management influences. It attempts to contribute insights on impression management over time. Design/methodology/approach: The paper attempts to contribute to external accounting communication literature, by building on the socio-psychological tradition within the functionalist-behavioural transmission perspective. The paper analyses multiple textual characteristics (positive, negative, tentative, future and external references, length, numeric references and first person pronouns) over 49 years and their potential relationship to profitability. Other possible disclosure drivers are also controlled. Findings: The findings show that Guinness consistently used qualitative textual characteristics with a self-serving bias, but did not use those with a more quantitative character. Continual profits achieved by the company, and the high corporate/personal reputation of the company/chairpersons, inter alia, may well explain limited evidence of impression management associated with quantitative textual characteristics. The context appears related to the evolution of the broad communication pattern. Practical implications: Impression management is likely to be present in some form in corporate disclosures of most companies, not only those companies with losses. If successful, financial reporting quality may be undermined and capital misallocations may result. Companies with a high public exposure such as those with a high reputation or profitability may use impression management in a different way. Originality/value: Studies analysing multiple textual characteristics in corporate narratives tend to focus on different companies in a single year, or in two consecutive years. This study analyses multiple textual characteristics over many consecutive years. It also gives an original historical perspective, by studying how impression management relates to its context, as demonstrated by a unique data set. In addition, by using the same company, the possibility that different corporate characteristics between companies will affect results is removed. Moreover, Guinness, a well-known international company, was somewhat unique as it achieved continual profits.",
keywords = "Accounting narratives, Functionalist-behavioural, Guinness, Impression management, Longitudinal, President’s letter",
author = "Alonso Moreno and Jones, {Michael John} and Martin Quinn",
year = "2019",
month = "8",
day = "23",
doi = "10.1108/AAAJ-01-2018-3308",
language = "English",
volume = "32",
pages = "1714--1741",
journal = "Accounting, Auditing and Accountability Journal",
issn = "0951-3574",
publisher = "Emerald",
number = "6",

}

RIS - suitable for import to EndNote

TY - JOUR

T1 - A longitudinal study of the textual characteristics in the chairman’s statements of Guinness

T2 - An impression management perspective

AU - Moreno, Alonso

AU - Jones, Michael John

AU - Quinn, Martin

PY - 2019/8/23

Y1 - 2019/8/23

N2 - Purpose: The purpose of this paper is to longitudinally analyse the evolution of multiple narrative textual characteristics in the chairman’s statements of Guinness from 1948 to 1996, with the aim of studying impression management influences. It attempts to contribute insights on impression management over time. Design/methodology/approach: The paper attempts to contribute to external accounting communication literature, by building on the socio-psychological tradition within the functionalist-behavioural transmission perspective. The paper analyses multiple textual characteristics (positive, negative, tentative, future and external references, length, numeric references and first person pronouns) over 49 years and their potential relationship to profitability. Other possible disclosure drivers are also controlled. Findings: The findings show that Guinness consistently used qualitative textual characteristics with a self-serving bias, but did not use those with a more quantitative character. Continual profits achieved by the company, and the high corporate/personal reputation of the company/chairpersons, inter alia, may well explain limited evidence of impression management associated with quantitative textual characteristics. The context appears related to the evolution of the broad communication pattern. Practical implications: Impression management is likely to be present in some form in corporate disclosures of most companies, not only those companies with losses. If successful, financial reporting quality may be undermined and capital misallocations may result. Companies with a high public exposure such as those with a high reputation or profitability may use impression management in a different way. Originality/value: Studies analysing multiple textual characteristics in corporate narratives tend to focus on different companies in a single year, or in two consecutive years. This study analyses multiple textual characteristics over many consecutive years. It also gives an original historical perspective, by studying how impression management relates to its context, as demonstrated by a unique data set. In addition, by using the same company, the possibility that different corporate characteristics between companies will affect results is removed. Moreover, Guinness, a well-known international company, was somewhat unique as it achieved continual profits.

AB - Purpose: The purpose of this paper is to longitudinally analyse the evolution of multiple narrative textual characteristics in the chairman’s statements of Guinness from 1948 to 1996, with the aim of studying impression management influences. It attempts to contribute insights on impression management over time. Design/methodology/approach: The paper attempts to contribute to external accounting communication literature, by building on the socio-psychological tradition within the functionalist-behavioural transmission perspective. The paper analyses multiple textual characteristics (positive, negative, tentative, future and external references, length, numeric references and first person pronouns) over 49 years and their potential relationship to profitability. Other possible disclosure drivers are also controlled. Findings: The findings show that Guinness consistently used qualitative textual characteristics with a self-serving bias, but did not use those with a more quantitative character. Continual profits achieved by the company, and the high corporate/personal reputation of the company/chairpersons, inter alia, may well explain limited evidence of impression management associated with quantitative textual characteristics. The context appears related to the evolution of the broad communication pattern. Practical implications: Impression management is likely to be present in some form in corporate disclosures of most companies, not only those companies with losses. If successful, financial reporting quality may be undermined and capital misallocations may result. Companies with a high public exposure such as those with a high reputation or profitability may use impression management in a different way. Originality/value: Studies analysing multiple textual characteristics in corporate narratives tend to focus on different companies in a single year, or in two consecutive years. This study analyses multiple textual characteristics over many consecutive years. It also gives an original historical perspective, by studying how impression management relates to its context, as demonstrated by a unique data set. In addition, by using the same company, the possibility that different corporate characteristics between companies will affect results is removed. Moreover, Guinness, a well-known international company, was somewhat unique as it achieved continual profits.

KW - Accounting narratives

KW - Functionalist-behavioural

KW - Guinness

KW - Impression management

KW - Longitudinal

KW - President’s letter

UR - http://www.scopus.com/inward/record.url?scp=85069866731&partnerID=8YFLogxK

U2 - 10.1108/AAAJ-01-2018-3308

DO - 10.1108/AAAJ-01-2018-3308

M3 - Article

AN - SCOPUS:85069866731

VL - 32

SP - 1714

EP - 1741

JO - Accounting, Auditing and Accountability Journal

JF - Accounting, Auditing and Accountability Journal

SN - 0951-3574

IS - 6

ER -