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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 謝昇峯 | zh_TW |
| dc.contributor.advisor | Sheng-Feng Hsieh | en |
| dc.contributor.author | 陳詠萱 | zh_TW |
| dc.contributor.author | Yung-Hsuan Chen | en |
| dc.date.accessioned | 2025-07-16T16:10:14Z | - |
| dc.date.available | 2025-07-17 | - |
| dc.date.copyright | 2025-07-16 | - |
| dc.date.issued | 2025 | - |
| dc.date.submitted | 2025-07-08 | - |
| dc.identifier.citation | Ailawadi, K. L., S. A. Neslin, Y. J. Luan, and G. A. Taylor. 2014. Does Retailer CSR Enhance Behavioral Loyalty? A Case for Benefit Segmentation. International journal of research in marketing 31 (2): 156-167.
Al-Tuwaijri, S., T. Christensen, and K. E. Hughes. 2003. The Relations Among Environmental Disclosure, Environmental Performance, and Economic Performance: A Simultaneous Equations Approach. SSRN Electronic Journal. Arena, C., S. Bozzolan, and G. Michelon. 2015. Environmental Reporting: Transparency to Stakeholders or Stakeholder Manipulation? An Analysis of Disclosure Tone and The Role of the Board of Directors. Corporate Social Responsibility and Environmental Management 22 (6): 346-361. Bebbington, J., C. Larrinaga, and J. M. Moneva. 2008. Corporate Social Reporting and Reputation Risk Management. Accounting, Auditing & Accountability Journal 21 (3): 337-361. Brennan, N., E. Guillamón-Saorín, and A. Pierce. 2009. Impression Management: Developing and Illustrating a Scheme of Analysis for Narrative Disclosures - A Methodological Note. Accounting, Auditing & Accountability Journal 22: 789-832. Cho, C. H., R. W. Roberts, and D. M. Patten. 2010. The Language of US Corporate Environmental Disclosure. Accounting, Organizations and Society 35 (4): 431-443. Clarkson, P., Y. Li, R. Gordon, and F. Vasvari. 2008. Revisiting the Relation Between Environmental Performance and Environmental Disclosure: An Empirical Analysis. Accounting, Organizations and Society 33: 303-327. D'Augusta, C., and M. D. DeAngelis. 2020. Does Accounting Conservatism Discipline Qualitative Disclosure? Evidence from tone management in the MD&A. Contemporary Accounting Research 37 (4): 2287-2318. Davis, A., J. Piger, and L. Sedor. 2012. Beyond the Numbers: Measuring the Information Content of Earnings Press Release Language. Contemporary Accounting Research 29: 845-868. Davis, A. K., and I. Tama‐Sweet. 2012. Managers’ Use of Language Across Alternative Disclosure Outlets: Earnings Press Releases versus MD&A. Contemporary Accounting Research 29 (3): 804-837. Dechow, P., W. Ge, and C. Schrand. 2010. Understanding Earnings Quality: A Review of the Proxies, Their Determinants and Their Consequences. Journal of Accounting and Economics 50 (2): 344-401. Du, S., and K. Yu. 2021. Do Corporate Social Responsibility Reports Convey Value Relevant Information? Evidence from Report Readability and Tone. Journal of Business Ethics 172: 253-274. Fisher, R., C. J. van Staden, and G. Richards. 2020. Watch That Tone. Accounting, Auditing & Accountability Journal 33 (1): 77-105. Hooghiemstra, R. 2000. Corporate Communication and Impression Management – New Perspectives Why Companies Engage in Corporate Social Reporting. Journal of Business Ethics 27 (1-2): 55 - 68. Huang, A. H., H. Wang, and Y. Yang. 2023. FinBERT: A Large Language Model for Extracting Information from Financial Text. Contemporary Accounting Research 40 (2): 806-841. Huang, D. Z. X. 2022. Environmental, Social and Governance Factors and Assessing Firm value: Valuation, Signalling and Stakeholder Perspectives. Accounting & Finance 62: 1983-2010. Huang, X., S. H. Teoh, and Y. Zhang. 2014. Tone Management. The Accounting Review 89 (3): 1083-1113. Hubbard, T., D. Christensen, and S. Graffin. 2017. Higher Highs and Lower Lows: The Role of Corporate Social Responsibility in CEO Dismissal: The Role of Corporate Social Responsibility in CEO Dismissal. Strategic Management Journal 38. Ignatov, K. 2023. When ESG Talks: ESG Tone of 10-K Reports and its Significance to Stock Markets. International Review of Financial Analysis 89: 102745. Li, W., T. Yan, Y. Li, and Z. Yan. 2023. Earnings Management and CSR Report Tone: Evidence from China. Corporate Social Responsibility and Environmental Management. Martínez-Ferrero, J., I. Sánchez, and Ó. Suárez Fernández. 2018. Obfuscation vs. Enhancement As Corporate Social Responsibility Disclosure Strategies. Corporate Social Responsibility and Environmental Management 26. Melloni, G. 2015. Intellectual Capital Disclosure in Integrated Reporting: An Impression Management Analysis. Journal of Intellectual Capital 16 (3): 661-680. Melloni, G., A. Caglio, and P. Perego. 2017. Saying More With Less? Disclosure Conciseness, Completeness and Balance in Integrated Reports. Journal of Accounting and Public Policy 36 (3): 220-238. Merkl-Davies, D., and N. Brennan. 2007. Discretionary Disclosure Strategies in Corporate Narratives: Incremental Information or Impression Management? Journal of Accounting Literature 26: 116-196. Merkl-Davies, Doris M. and Brennan, Niamh M. 2011. A Conceptual Framework of Impression Management: New Insights from Psychology, Sociology, and Critical Perspectives. Accounting and Business Research 41: 415-437. Nakao, Y., K. Kokubu, and K. Nishitani. 2019. Do Sustainability Reports Strategically Employ Rhetorical Tone?: an Evidence from Japan. Kobe University Discussion Papers 1: 1-23. Patatoukas, P. N. 2012. Customer-base Concentration: Implications for Firm Performance and Capital Markets: 2011 American accounting association competitive manuscript award winner. The Accounting Review 87 (2): 363-392. Raghavendra, A. H., P. K. Bala, and A. Mukherjee. 2023. CEO Communications and ESG Performance: Deciphering the Impact of Corporate Narratives. International Journal of Business & Economics (IJBE) 8 (2): 190-211. Tsang, A., T. Frost, and H. Cao. 2023. Environmental, Social, and Governance (ESG) Disclosure: A LiteratureRreview. The British Accounting Review 55 (1): 101149. Wang, H.-M., T. H.-K. Yu, and C.-Y. Hsiao. 2021. The Causal Effect of Corporate Social Responsibility and Corporate Reputation on Brand Equity: A Fuzzy-Set Qualitative Comparative Analysis. Journal of Promotion Management 27 (5): 630-641. Zhang, L., Y. G. Shan, and M. Chang. 2021. Can CSR Disclosure Protect Firm Reputation During Financial Restatements? Journal of Business Ethics 173 (1): 157-184. | - |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/97757 | - |
| dc.description.abstract | 本研究探討了環境、社會與治理（ESG）報告中的語調管理，並評估其對市場反應的影響。我們的分析區分了ESG報告的正常語調和異常語調，其中異常語調受到管理層的自由裁量。利用 2017 至 2021 年間 S&P500 公司的 ESG 報告，我們發現 ESG 報告中的異常語調與未來的 ESG 表現沒有顯著關聯。然而，異常正向的語調與較差的未來財務表現相關。此外，異常語調與管理層影響投資者的動機呈正相關，並對ESG報告公告的短期市場反應有正面影響。結果顯示，ESG報告中的語調管理可能會誤導投資者。 | zh_TW |
| dc.description.abstract | This study explores tone management in Environmental, Social, and Governance(ESG) reporting and assesses its impact on the market reaction. Our analysis differentiates between normal and abnormal tones of ESG reports, with the abnormal tone subject to managerial discretion. Utilizing a dataset of ESG reports of S&P 500 companies from 2017 to 2021, we find no significant association between abnormal tone in ESG reports and future ESG performance. However, an abnormally positive tone signals poorer future financial performance. Additionally, abnormal tone is positively correlated with managerial incentives to influence investor and has a positive short-term market reaction to the ESG report announcement. These findings indicate that tone management in ESG reports may misleads investors. Our study contributes to both the academic literature and practical application by highlighting how strategic tone management is deployed within ESG reports. | en |
| dc.description.provenance | Submitted by admin ntu (admin@lib.ntu.edu.tw) on 2025-07-16T16:10:14Z No. of bitstreams: 0 | en |
| dc.description.provenance | Made available in DSpace on 2025-07-16T16:10:14Z (GMT). No. of bitstreams: 0 | en |
| dc.description.tableofcontents | 摘要 i
ABSTRACT ii 1. INTRODUCTION 1 2. LITERATURE REVIEW & HYPOTHESIS DEVELOPMENT 4 2.1 Tone Management in ESG Reports 4 2.2 Tone Management and Future Financial Performance 8 2.3 Tone Management as a Strategic Approach 9 2.4 Market Reaction to Tone Management 10 3. RESEARCH DESIGN 11 3.1 Tone Measurement 11 3.2 Abnormal Positive Tone Measurement 12 3.3 Empirical Models 14 4. SAMPLE SELECTION & DESCRIPTIVE STATSTICS 16 4.1 Data and Sample Selection 16 4.2 Descriptive Statistics 18 5. RESULTS 19 5.1 Tone Model 19 5.2 Tone Management and Future ESG Performance 20 5.3 Tone Management and Future Financial Performance 21 5.4 Tone Management as a Strategic Approach 22 5.5 Market Reaction to Tone Management 22 6. ADDITIONAL ANALYSES 23 7. CONCLUSIONS 27 REFERENCE 30 Appendix A Variables Definition 43 Appendix B Sample sentences of FinBERT-ESG and FinBERT-Sentiment 45 | - |
| dc.language.iso | en | - |
| dc.subject | 市場反應 | zh_TW |
| dc.subject | 文本分析 | zh_TW |
| dc.subject | 語調管理 | zh_TW |
| dc.subject | ESG 報告書 | zh_TW |
| dc.subject | Market reaction | en |
| dc.subject | ESG report | en |
| dc.subject | Tone management | en |
| dc.subject | Textual analysis | en |
| dc.subject | FinBERT | en |
| dc.title | ESG 報告中的異常語調： 探討策略性揭露行為及其對投資者影響 | zh_TW |
| dc.title | Abnormal Tone in ESG Reports: Decoding the Strategic Disclosure Behavior and its Implications for Investors | en |
| dc.type | Thesis | - |
| dc.date.schoolyear | 113-2 | - |
| dc.description.degree | 碩士 | - |
| dc.contributor.oralexamcommittee | 陳坤志;顏如君 | zh_TW |
| dc.contributor.oralexamcommittee | Kun-Chih Chen;Ju-Chun Yen | en |
| dc.subject.keyword | ESG 報告書,語調管理,文本分析,市場反應, | zh_TW |
| dc.subject.keyword | ESG report,Tone management,Textual analysis,FinBERT,Market reaction, | en |
| dc.relation.page | 46 | - |
| dc.identifier.doi | 10.6342/NTU202501579 | - |
| dc.rights.note | 同意授權(限校園內公開) | - |
| dc.date.accepted | 2025-07-10 | - |
| dc.contributor.author-college | 管理學院 | - |
| dc.contributor.author-dept | 會計學系 | - |
| dc.date.embargo-lift | 2025-07-17 | - |
| 顯示於系所單位： | 會計學系 | |
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