Man Dang, Prem Puwanenthiren, Edward Jones, Nguyen Bui and Thuy Dung Le 2024. Does corporate culture shape “Tone at the Top”? Evidence from earnings calls. Finance Research Letters. 59 104698. https://doi.org/10.1016/j.frl.2023.104698
| Title | Does corporate culture shape “Tone at the Top”? Evidence from earnings calls |
|---|---|
| Type | Journal article |
| Authors | Man Dang, Prem Puwanenthiren, Edward Jones, Nguyen Bui and Thuy Dung Le |
| Abstract | This study investigates how corporate culture affects the tone of managerial communications. Using data from earnings calls of U.S.-listed firms over 2001–2021, we find firms with strong culture values characterized by innovation, integrity, quality, respect, and teamwork experience more positive tone. Our findings remain unchanged after addressing endogeneity and the use of entropy balancing approach. Further, the culture-tone relationship is more pronounced in weak information and governance environments. Overall, this study provides insights on the benefits of promoting a strong corporate culture. |
| Keywords | Corporate culture |
| Management tone | |
| Earnings calls | |
| Information and governance environments | |
| Earnings quality | |
| Machine learning | |
| Article number | 104698 |
| Journal | Finance Research Letters |
| Journal citation | 59 |
| ISSN | 1544-6123 |
| 1544-6131 | |
| Year | 2024 |
| Publisher | Elsevier |
| Digital Object Identifier (DOI) | https://doi.org/10.1016/j.frl.2023.104698 |
| Publication dates | |
| Published online | 09 Nov 2023 |
| Published in print | Jan 2024 |