Textual Analysis Measures in Finance and Accounting

The theoretical underpinnings of managerial disclosure, as systematically reviewed, provide a dual perspective on the motives behind corporate communication strategies. These perspectives dichotomize the motivations into informational, where disclosure is used as a medium to convey the economic realities of the firm to the financial statement users, and opportunistic, where such communication is strategically employed to shape and steer users’ perceptions to the managers’ advantage.