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Impression management in annual report narratives: the case of the UK private finance initiative

Author

Listed:
  • Victoria C. Edgar
  • Matthias Beck
  • Niamh M. Brennan

Abstract

Purpose - The UK private finance initiative (PFI) public policy is heavily criticised. PFI contracts are highly profitable leading to incentives for PFI private-sector companies to support PFI public policy. This contested nature of PFIs requires legitimation by PFI private-sector companies, by means of impression management, in terms of the attention to and framing of PFI in PFI private-sector company annual reports. The paper aims to discuss this issue. Design/methodology/approach - PFI-related annual report narratives of three UK PFI private-sector companies, over seven years and across two periods of significant change in the development of the PFI public policy, are analysed using manual content analysis. Findings - Results suggest that PFI private-sector companies use impression management to legitimise during periods of uncertainty for PFI public policy, to alleviate concerns, to provide credibility for the policy and to legitimise the private sector’s own involvement in PFI. Research limitations/implications - While based on a sizeable database, the research is limited to the study of three PFI private-sector companies. Originality/value - The portrayal of public policy in annual report narratives has not been subject to prior research. The research demonstrates how managers of PFI private-sector companies present PFI narratives in support of public policy direction that, in turn, benefits PFI private-sector companies.

Suggested Citation

  • Victoria C. Edgar & Matthias Beck & Niamh M. Brennan, 2018. "Impression management in annual report narratives: the case of the UK private finance initiative," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 31(6), pages 1566-1592, June.
    • Handle: RePEc:eme:aaajpp:aaaj-10-2016-2733
    DOI: 10.1108/AAAJ-10-2016-2733
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    Citations

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    Cited by:

    1. Elaine Stewart & Ciaran Connolly, 2021. "Recent UK Central Government Accounting Reforms: Claimed Benefits and Experienced Outcomes," Abacus, Accounting Foundation, University of Sydney, vol. 57(3), pages 557-592, September.
    2. Walid Ben‐Amar & Merridee Bujaki & Bruce McConomy & Philip McIlkenny, 2022. "Disclosure transparency and impression management: A textual analysis of board gender diversity disclosures in Canada," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1247-1265, September.
    3. Isabel‐María García‐Sánchez & Valentina Minutiello & Patrizia Tettamanzi, 2022. "Gender disclosure: The impact of peer behaviour and the firm's equality policies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(2), pages 385-405, March.
    4. Zhao, Jianfeng & Greenwood, David & Thurairajah, Niraj & Liu, Henry J. & Haigh, Richard, 2022. "Value for money in transport infrastructure investment: An enhanced model for better procurement decisions," Transport Policy, Elsevier, vol. 118(C), pages 68-78.
    5. Perkiss, Stephanie & Bernardi, Cristiana & Dumay, John & Haslam, Jim, 2021. "A sticky chocolate problem: Impression management and counter accounts in the shaping of corporate image," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 81(C).
    6. Jari Martikainen & Roberto Adriani, 2023. "Cover Images of Inflight Magazines as Airlines’ Methods of Impression Management: Alitalia’s Ulisse Magazine and Finnair’s Blue Wings Magazine," Corporate Reputation Review, Palgrave Macmillan, vol. 26(1), pages 64-80, February.

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