Impression Management and Retrospective Sense-Making in Corporate Annual Reports: Banks’ Graphical Reporting During the Global Financial Crisis
This study investigates two potentially complementary reporting scenarios in annual reports: reactive impression management and retrospective sense-making. It examines stock market performance graphs in European listed banks’ annual reports before and during the global financial crisis. Our results...
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Veröffentlicht in: | International journal of business communication (Thousand Oaks, Calif.) Calif.), 2020-10, Vol.57 (4), p.474-496 |
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Format: | Artikel |
Sprache: | eng |
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Zusammenfassung: | This study investigates two potentially complementary reporting scenarios in annual reports: reactive impression management and retrospective sense-making. It examines stock market performance graphs in European listed banks’ annual reports before and during the global financial crisis. Our results indicate that banks reacted to the global financial crisis by omitting stock market performance graphs from the annual report and from its most prominent sections. On the other hand, banks reduced favorable distortions and favorable performance comparisons. No significant evidence of retrospective sense-making is found. Overall, the findings are consistent with impression management incorporating human cognitive biases, with companies preferring misrepresentation by omission over misrepresentation by commission. Under high public scrutiny, banks appear to seek to provide a more favorable view by concealing negative information rather than by favorable distortions or comparisons. The study contributes to the development of impression management theories. It uses a psychological interpretation that incorporates human cognitive biases, rather than adopting a purely economically based perspective. |
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ISSN: | 2329-4884 2329-4892 |
DOI: | 10.1177/2329488417712010 |