Annual report tone and bank risk-taking behavior: Evidence from China

被引：0

作者：

Wei, Lu ^{[1
]}

Wei, Mingye ^{[2
]}

Jing, Haozhe ^{[1
]}

Jing, Zhongbo ^{[1
]}

机构：

[1] Cent Univ Finance & Econ, Sch Management Sci & Engn, Shahe Higher Educ Pk, Beijing 102206, Peoples R China

[2] Renmin Univ China, Sch Econ, Beijing 100872, Peoples R China

来源：

RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE | 2025年 / 77卷

基金：

中国国家自然科学基金;

关键词：

Management tone; Risk-taking; Bank risk; Textual analysis; Annual reports; MD-AND-A; EARNINGS PRESS RELEASES; IMPRESSION MANAGEMENT; INFORMATION-CONTENT; CAPITAL REGULATION; MARKET POWER; PERFORMANCE; COMPETITION; DISCLOSURE; SENTIMENT;

D O I：

10.1016/j.ribaf.2025.102881

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper explores how the textual tone of annual reports affects banks' risk-taking. This paper divides tone into normal tone and abnormal tone and examines their influences on the risk-taking of banks' assets and liabilities, respectively. By collecting 326 samples of 38 Chinese A-share listed banks' annual reports during 2000-2020, the study finds that a more positive normal tone in annual reports indicates an increase in bank risk-taking behavior in the future. The competitive pressure and the policy shock plays a negative moderating role whereas the profitability has a positive moderating impact. Besides, the impact of the positive tone on increasing bank's risktaking behavior is more prominent for state-owned banks than that of non-state-owned banks. However, the abnormal tone can not predict the bank's future risk-taking behavior. Finally, our findings show that the normal tone can provide forward-looking valuable information and has a significant predictive ability for a bank's future risk-taking behavior and its insolvency risk.

引用

页数：20

共 115 条

[31] Firm competitiveness: A general model and a manufacturing application [J].

Chikan, Attila ;

Czako, Erzsebet ;

Kiss-Dobronyi, Bence ;

Losonci, David .

INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS, 2022, 243

[32] National and firm competitiveness: a general research model [J].

Chikan, Attila .

COMPETITIVENESS REVIEW, 2008, 18 (1-2) :20-+

[33]

Chung K, 2015, ECON POLICY, V30, P233

[34] Does Accounting Conservatism Discipline Qualitative Disclosure? Evidence From Tone Management in the MD&A [J].

D'Augusta, Carlo ;

DeAngelis, Matthew D. .

CONTEMPORARY ACCOUNTING RESEARCH, 2020, 37 (04) :2287-2318

[35] Climate policy uncertainty and risks taken by the bank: Evidence from China [J].

Dai, Zhifeng ;

Zhang, Xiaotong .

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2023, 87

[36] The Impact of Risk Cycles on Business Cycles: A Historical View [J].

Danielsson, Jon ;

Valenzuela, Marcela ;

Zer, Ilknur .

REVIEW OF FINANCIAL STUDIES, 2023, 36 (07) :2922-2961

[37] The effect of manager-specific optimism on the tone of earnings conference calls [J].

Davis, Angela K. ;

Ge, Weili ;

Matsumoto, Dawn ;

Zhang, Jenny Li .

REVIEW OF ACCOUNTING STUDIES, 2015, 20 (02) :639-673

[38] Managers' Use of Language Across Alternative Disclosure Outlets: Earnings Press Releases versus MD&A [J].

Davis, Angela K. ;

Tama-Sweet, Isho .

CONTEMPORARY ACCOUNTING RESEARCH, 2012, 29 (03) :804-+

[39] Mandatory disclosure tone and bank risk-taking: Evidence from Europe [J].

Del Gaudio, Belinda L. ;

Megaravalli, Amith, V ;

Sampagnaro, Gabriele ;

Verdoliva, Vincenzo .

ECONOMICS LETTERS, 2020, 186

[40] Overlapping membership between risk management committee and audit committee and bank risk-taking: Evidence from China [J].

Ding, Bin Yan ;

Wei, Feng .

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2023, 86

← 1 2 3 4 5 6 7 8 9 10 →