Abnormal tone in management earnings forecast, media negative coverage, and insider trading

References

• Allee, K. D., and M. D. Deangelis. 2015. “The Structure of Voluntary Disclosure Narratives: Evidence from Tone Dispersion.” Journal of Accounting Research 2: 241–274.
   Google Scholar
• Baginski, S., E. Demers, C. Wang, and J. Yu. 2016. “Contemporaneous Verification of Language: Evidence from Management Earnings Forecasts.” Review of Accounting Studies 21 (1): 165–197.
   Web of Science ®Google Scholar
• Beneish, M. D., E. Press, and M. E. Vargus. 2012. “Insider Trading and Earnings Management in Distressed Firms.” Contemporary Accounting Research 29 (1): 191–220.
   Web of Science ®Google Scholar
• Bi, C., and Y. Li. 2019. “Unintended Consequences of Regulation FD: A Natural Experiment from China”.” Asia-Pacific Journal of Accounting & Economics. doi:10.1080/16081625.2019.1617751.
   Google Scholar
• Bloomfield, R. J. 2002. “The Incomplete Revelation Hypothesis and Financial Reporting.” Accounting Horizons 16 (3): 985–988.
   Google Scholar
• Bloomfield, R. J. 2008. “Discussion of Annual Report Readability, Current Earnings, and Earnings Persistence.” Journal of Accounting & Economics 45 (2–3): 2–25.
   Web of Science ®Google Scholar
• Bonsall, S. B., Z. Bozanic, and P. E. Fischer. 2012. When Is Soft Talk Informative? SSRN eLibrary.
   Google Scholar
• Bonsall, S. B., J. Green, and K. A. Muller. 2020. “Market Uncertainty and the Importance of Media Coverage at Earnings Announcements.” Journal of Accounting and Economics 69: 1. d oi:/1 0.1016/j.jacceco.2019.101264.
   Web of Science ®Google Scholar
• Bozanic, Z., D. T. Roulstone, and A. Van Buskirk. 2018. “Management Earnings Forecasts and Other Forward-looking Statements.” Journal of Accounting and Economics 65 (1): 1–20.
   Web of Science ®Google Scholar
• Brockman, P. 2017. “Words versus Deeds: Evidence from Post-Call Manager Trades.”.” Financial Management. doi:10.1111/fima.12173.
   Web of Science ®Google Scholar
• Cheng, Q., and K. Lo. 2006. “Insider Trading and Voluntary Disclosure.” Journal of Accounting Research 44 (5): 815–848.
   Web of Science ®Google Scholar
• Choi, J. H., L. A. Myers, Y. Zang, and D. A. Ziebart. 2010. “The Roles that Forecast Surprise and Forecast Error Play in Determining Management Forecast Precision.” Accounting Horizons 24: 165–188.
   Web of Science ®Google Scholar
• Davis, A. K., J. M. Piger, and L. M. Sedor. 2012. “Beyond the Numbers: Measuring the Information Content of Earnings Press Release Language.” Contemporary Accounting Research 29 (3): 848–868.
   Web of Science ®Google Scholar
• Downs, A. 1957. “An Economic Theory of Political Action in a Democracy.” Journal of Political Economy 65 (2): 135–150.
   Web of Science ®Google Scholar
• Dyck, A., N. Volchkova, and L. Zingales. 2008. “The Corporate Governance Role of the Media: Evidence from Russia.” The Journal of Finance 63 (3): 1093–1135.
   Web of Science ®Google Scholar
• Fang, H. X., and Y. N. Jin.2011. “Can High-quality Internal Control Restrict Earnings Management? —an Empirical Research Based on the Voluntary Internal Control and Authentication Reports”. Accounting Research 8: 53–60.
   Google Scholar
• Hirst, D. E., L. Koonce, and S. Venkataraman. 2008. “Management Earnings Forecasts: A Review and Framework.” Accounting Horizons 22 (3): 315–338.
   Web of Science ®Google Scholar
• Hribar, P., and J. Mcinnis. 2012. “Investor Sentiment and Analysts Earnings Forecast Errors.” Management Science 58 (12): 293–307.
   Google Scholar
• Huang, X., S. Teoh, and Y. Zhang. 2014. “Tone Management.” The Accounting Review 3: 1083–1113.
   Google Scholar
• Jiang, X., and M. A. Zaman. 2010. “Aggregate Insider Trading: Contrarian Beliefs or Superior Information?” Journal of Banking & Finance 34 (6): 1186–1236.
   Web of Science ®Google Scholar
• Li, F. 2010. ““The Information Content of Forward‐looking Statements in Corporate filings—A Naïve Bayesian Machine Learning Approach.” Journal of Accounting Research 5: 1049–1102.
   Google Scholar
• Li, Y. H., and J. H. Wei. 2017. “Corporate Accidents, Media Coverage, and Stock Market Responses.” Chinese Management Studies 7 (4): 617–630.
   Google Scholar
• Liu, B. H., and J. Mcconnell. 2013. “The Role of the Media in Corporate Governance: Do the Media Influence Managers Capital Allocation Decisions?”.” Social Science Electronic Publishing 110 (1): 1–17.
   Google Scholar
• Matsumoto, D., M. Pronk, and E. Roelofsen.2011. “What Makes Conference Calls Useful? the Information Content of Managers’ Presentations and Analysts’ Discussion Sessions”. The Accounting Review 4: 1383–1414.
   Google Scholar
• Peress, J., and L. Fang. 2008. ““Media Coverage and the Cross-Section of Stock Returns.” Journal of Finance 64: 2023–2052.
   Web of Science ®Google Scholar
• Qiu, Y., H. He, and G. Xiao. 2018. “The Information Content of Insider Trading: Evidence from China.” Finance Research Letter 26: 126–131.
   Web of Science ®Google Scholar
• Qu, X. H., and Y. H. Qiu. 2007. “Compulsory Institutional Change and Earnings Conservatism: Evidence from Stock Market in China.” China Accounting Research 7: 20–28.
   Google Scholar
• Rogers, J. L., and P. C. Stocken. 2005. “Credibility of Management Forecasts.” The Accounting Review 80 (4): 1233–1260.
   Web of Science ®Google Scholar
• Rogers, J. L., and A. Van Buskirk. 2013. “Bundled Forecasts in Empirical Accounting research[J].” Journal of Accounting & Economics 55 (1): 43–65.
   Web of Science ®Google Scholar
• Rose, C., and S. Thomsen. 2004. “The Impact of Corporate Reputation on Performance: Some Danish Evidence.” European Management Journal 22 (2): 201–210.
   Google Scholar
• Shu, H. B., and S. M. Wong. 2017. “When a Sinner Does a Good Deed: The Path Dependence of Reputation Repair.” Journal of Management Studies 55 (5): 101–123.
   Web of Science ®Google Scholar
• Tan, S. T., S. L. Gan, and L. Kan. 2015. “Does Media Coverage Decrease the Analysts’ Forecast Error?” Journal of Finance 5: 192–206.
   Google Scholar
• Wu, P., L. Gao, and X. Li. 2016. “Does the Reputation Mechanism of Media Coverage Affect Earnings Management?” Chinese Management Studies 10 (4): 627–656.
   Web of Science ®Google Scholar
• Yan, Z., and L. Alicia. 2014. “Corporate Social Responsibility, Firm Reputation, and Firm Performance: The Role of Ethical Leadership.” Asia Pacific Journal of Management 31 (4): 925–947.
   Web of Science ®Google Scholar
• Yang, J., J. H. Wang, Z. G. Yi, and N. Mao. 2019. “Managing the Media Coverage: Evidence from Managers’ Stock Selling”.” Asia-Pacific Journal of Accounting & Economics. doi:10.1080/16081625.2019.1693278.
   Web of Science ®Google Scholar
• Zeng, Q. S., B. Zhou, and C. Zhang. 2018. “Language Tone and Insider Trading: Evidence from China’s Listed Firms”.” Management World 69 (9): 143–160.
   Google Scholar
• Zheng, Z., D. Ding, and C. Y. Wang. 2011. “Negative Media Coverage,Management Reputation and Firm Performance Improvement: Evidencefrom China’s Listed Firms.” Journal of Financial Research 12: 77–95.
   Google Scholar
• Zhu, M. H., and A. H. Li. 2018. “How the Media Coverage Affects Chinese Publics’ Anticorruption Perceptions: Empirical Study Based on Interaction Effect Analysis.” Procedia Computer Science 139: 190–198.
   Google Scholar