Pesci, Caterina and Fornaciari, Luca and Triani, Silvia and Medioli, Anna and Soobaroyen, Teerooven (2019) Can graphs in sustainability reports actually manage impressions? An analysis from the investors' perspective. In: Accounting, Accountability and Society. CSR, Sustainabiliy, Ethics & Governance . Springer, pp. 225-243. ISBN 9783030411411. Official URL: http://dx.doi.org/10.1007/978-3-030-41142-8_11 (In Press)
Pesci, Caterina and Fornaciari, Luca and Triani, Silvia and Medioli, Anna and Soobaroyen, Teerooven (2019) Can graphs in sustainability reports actually manage impressions? An analysis from the investors' perspective. In: Accounting, Accountability and Society. CSR, Sustainabiliy, Ethics & Governance . Springer, pp. 225-243. ISBN 9783030411411. Official URL: http://dx.doi.org/10.1007/978-3-030-41142-8_11 (In Press)
Pesci, Caterina and Fornaciari, Luca and Triani, Silvia and Medioli, Anna and Soobaroyen, Teerooven (2019) Can graphs in sustainability reports actually manage impressions? An analysis from the investors' perspective. In: Accounting, Accountability and Society. CSR, Sustainabiliy, Ethics & Governance . Springer, pp. 225-243. ISBN 9783030411411. Official URL: http://dx.doi.org/10.1007/978-3-030-41142-8_11 (In Press)
Abstract
Impression management is an emerging framework that encompasses a number of possible strategies for favorably impressing the receivers of accountability information. In recent years, there has been the emergence of empirical and theoretical work focusing on the extent and role of visuals (images, graphs, pictures) in accounting and accountability reports. This perspective asserts that a visual device contained in accounting and accountability reports can be a powerful vehicle to manage, distort, and direct readers’ impressions with a view to convey a positive image of the organization in relation to a given subject matter or more generally about the organization itself. Therefore, many studies have used the impression management concept as a lens for interpreting organizational and/or managerial attitudes and motivations underlying the use of visual disclosure. However, what is far less evident from extant research is whether such impression management strategies do actually influence the readers’ decision-making process. This gap in the literature arguably needs to be addressed because there is an impetus to assess the consequences (if any) of impression management studies. Unless there is an assessment of effectiveness of impression management tactics in achieving their presumed intent of presenting organizational disclosures in a more favorable light, there is a risk that the insights from many such studies would be less relevant to the real world. Concretely, and informed by the economic agency-theory-based strand of impression management, this study investigates the idea that a reliance on visual devices (graphs) will have a significant effect on readers’ investment decisions and thereby on market value. From a methodological viewpoint, Ohlson’s (1995) modified model has been used to analyze the impact on market value of graphs contained in sustainability reports of listed companies based in three European Countries (Spain, Italy, and France). The results show that visual/graph information is value relevant, but is negatively associated to market value affects investment decisions. This surprising result and its implications are discussed and problematized in our paper.
Item Type: | Book Section |
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Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Essex Business School |
SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
Depositing User: | Unnamed user with email elements@essex.ac.uk |
Date Deposited: | 14 Nov 2019 12:14 |
Last Modified: | 23 Oct 2024 06:28 |
URI: | http://repository.essex.ac.uk/id/eprint/25929 |
Available files
Filename: Chapter Edited Accepted Nov 2019.pdf