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A Wolf in Sheep’s Clothing: The Use of Ethics-Related Terms in 10-K Reports

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  • Tim Loughran
  • Bill McDonald
  • Hayong Yun

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  • Tim Loughran & Bill McDonald & Hayong Yun, 2009. "A Wolf in Sheep’s Clothing: The Use of Ethics-Related Terms in 10-K Reports," Journal of Business Ethics, Springer, vol. 89(1), pages 39-49, May.
    • Handle: RePEc:kap:jbuset:v:89:y:2009:i:1:p:39-49
    DOI: 10.1007/s10551-008-9910-1
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    References listed on IDEAS

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    1. Paul Gompers & Joy Ishii & Andrew Metrick, 2003. "Corporate Governance and Equity Prices," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 118(1), pages 107-156.
    2. Merton, Robert C, 1987. "A Simple Model of Capital Market Equilibrium with Incomplete Information," Journal of Finance, American Finance Association, vol. 42(3), pages 483-510, July.
    3. Hong, Harrison & Kacperczyk, Marcin, 2009. "The price of sin: The effects of social norms on markets," Journal of Financial Economics, Elsevier, vol. 93(1), pages 15-36, July.
    4. Daylian M. Cain & George Loewenstein & Don A. Moore, 2005. "The Dirt on Coming Clean: Perverse Effects of Disclosing Conflicts of Interest," The Journal of Legal Studies, University of Chicago Press, vol. 34(1), pages 1-25, January.
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    Cited by:

    1. Saurabh Ahluwalia & O. C. Ferrell & Linda Ferrell & Terri L. Rittenburg, 2018. "Sarbanes–Oxley Section 406 Code of Ethics for Senior Financial Officers and Firm Behavior," Journal of Business Ethics, Springer, vol. 151(3), pages 693-705, September.
    2. Wolfgang Breuer & Andreas Knetsch & Astrid Juliane Salzmann, 2020. "What Does It Mean When Managers Talk About Trust?," Journal of Business Ethics, Springer, vol. 166(3), pages 473-488, October.
    3. Phillip J. Quinn, 2018. "Shifting corporate culture: executive stock ownership plan adoptions and incentives to meet or just beat analysts’ expectations," Review of Accounting Studies, Springer, vol. 23(2), pages 654-685, June.
    4. Hoberg, Gerard & Lewis, Craig, 2017. "Do fraudulent firms produce abnormal disclosure?," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 58-85.
    5. Liu, Pu & Nguyen, Hazel T., 2020. "CEO characteristics and tone at the top inconsistency," Journal of Economics and Business, Elsevier, vol. 108(C).
    6. Kladakis, George & Chen, Lei & Bellos, Sotirios K., 2023. "Ethical bank disclosures and liquidity creation," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 84(C).
    7. Russell Craig & Tony Mortensen & Shefali Iyer, 2013. "Exploring Top Management Language for Signals of Possible Deception: The Words of Satyam’s Chair Ramalinga Raju," Journal of Business Ethics, Springer, vol. 113(2), pages 333-347, March.
    8. Kristin Smith-Crowe & Ann Tenbrunsel & Suzanne Chan-Serafin & Arthur Brief & Elizabeth Umphress & Joshua Joseph, 2015. "The Ethics “Fix”: When Formal Systems Make a Difference," Journal of Business Ethics, Springer, vol. 131(4), pages 791-801, November.
    9. Slack, Richard & Tsalavoutas, Ioannis, 2018. "Integrated reporting decision usefulness: Mainstream equity market views," Accounting forum, Elsevier, vol. 42(2), pages 184-198.
    10. Esmee M. Veenstra & Naomi Ellemers, 2020. "ESG Indicators as Organizational Performance Goals: Do Rating Agencies Encourage a Holistic Approach?," Sustainability, MDPI, vol. 12(24), pages 1-15, December.
    11. Latino, Carmelo, 2023. "Surfing the green wave: What's in a "green" name change?," SAFE Working Paper Series 410, Leibniz Institute for Financial Research SAFE.
    12. Jia Xu & Jiuchang Wei & Liangdong Lu, 2019. "Strategic stakeholder management, environmental corporate social responsibility engagement, and financial performance of stigmatized firms derived from Chinese special environmental policy," Business Strategy and the Environment, Wiley Blackwell, vol. 28(6), pages 1027-1044, September.
    13. David F. Larcker & Anastasia A. Zakolyukina, 2012. "Detecting Deceptive Discussions in Conference Calls," Journal of Accounting Research, Wiley Blackwell, vol. 50(2), pages 495-540, May.
    14. Ronald J. Balvers & John F. Gaski & Bill McDonald, 2016. "Financial Disclosure and Customer Satisfaction: Do Companies Talking the Talk Actually Walk the Walk?," Journal of Business Ethics, Springer, vol. 139(1), pages 29-45, November.
    15. Arthur S. Jago & Kristin Laurin, 2019. "Inferring Commitment from Rates of Organizational Transition," Management Science, INFORMS, vol. 67(6), pages 2842-2857, June.
    16. Yao Ge & Zheng Qiao & Zhe Shen & Zhiyu Zhang, 2023. "Production similarity and the cross‐section of stock returns: A machine learning approach," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(5), pages 4849-4882, December.
    17. Michael S. McLeod & G. Tyge Payne & Robert E. Evert, 2016. "Organizational Ethics Research: A Systematic Review of Methods and Analytical Techniques," Journal of Business Ethics, Springer, vol. 134(3), pages 429-443, March.
    18. Kanagaretnam, Kiridaran & Mawani, Amin & Shi, Guifeng & Zhou, Zejiang, 2020. "Impact of social capital on tone ambiguity in banks’ 10-K filings," Journal of Behavioral and Experimental Finance, Elsevier, vol. 28(C).
    19. Sunita Goel & Jagdish Gangolly, 2012. "Beyond The Numbers: Mining The Annual Reports For Hidden Cues Indicative Of Financial Statement Fraud," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 19(2), pages 75-89, April.
    20. Li, Xiao, 2020. "When financial literacy meets textual analysis: A conceptual review," Journal of Behavioral and Experimental Finance, Elsevier, vol. 28(C).
    21. Hu, Xinwen & Hua, Renhai & Liu, Qingfu & Wang, Chuanjie, 2023. "The green fog: Environmental rating disagreement and corporate greenwashing," Pacific-Basin Finance Journal, Elsevier, vol. 78(C).
    22. Han, Simeng & Reinartz, Werner & Skiera, Bernd, 2021. "Capturing Retailers’ Brand and Customer Focus," Journal of Retailing, Elsevier, vol. 97(4), pages 582-596.
    23. Ingrid E. Fisher & Margaret R. Garnsey & Mark E. Hughes, 2016. "Natural Language Processing in Accounting, Auditing and Finance: A Synthesis of the Literature with a Roadmap for Future Research," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 23(3), pages 157-214, July.
    24. Belinda Crawford Camiciottoli, 2012. "Oral financial reporting: A rhetorical analysis of earnings calls," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2012(4), pages 15-34.
    25. Tim Loughran & Bill Mcdonald, 2016. "Textual Analysis in Accounting and Finance: A Survey," Journal of Accounting Research, Wiley Blackwell, vol. 54(4), pages 1187-1230, September.

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