IDEAS home Printed from https://ideas.repec.org/a/eee/riibaf/v84y2026ics0275531926000310.html

Operational performance and disclosure tone

Author

Listed:
  • Grande-Herrera, Cristina
  • Guillamon-Saorin, Encarna
  • Kapelko, Magdalena

Abstract

Our paper examines whether operational performance, as measured by technical efficiency, is reflected in corporate disclosure tone. In addition, we analyze which dimensions of operational performance most concern managers and whether they are reflected in the tone of corporate reports. In particular, we investigate whether balances/imbalances in levels of efficiency are reflected in the tone of corporate reports. Using disclosure narratives of the annual reports of 4348 US companies for the period 1993–2021, we find that better operational performance is generally related to larger levels of positive tone (generated by including less negativity), less uncertainty, and less hesitancy in disclosure tone. We also find that balances in efficiency reflect operational performance, while imbalances are not related to narrative tone in the way one would expect, which seems to indicate a more strategic managerial disclosure approach.

Suggested Citation

  • Grande-Herrera, Cristina & Guillamon-Saorin, Encarna & Kapelko, Magdalena, 2026. "Operational performance and disclosure tone," Research in International Business and Finance, Elsevier, vol. 84(C).
    • Handle: RePEc:eee:riibaf:v:84:y:2026:i:c:s0275531926000310
    DOI: 10.1016/j.ribaf.2026.103304
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0275531926000310
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ribaf.2026.103304?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:riibaf:v:84:y:2026:i:c:s0275531926000310. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ribaf .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.