Author(s)

Lei Gu, Yixin Shen

Corresponding Author

Lei Gu

Abstract

With the development of capital market, the tone of management in enterprise information disclosure has attracted much attention. This article aims to explore the relationship between management tone and enterprise financial performance, and provide reference for enterprise management and supervision. Based on text analysis method, combined with text analysis theory, management tone related theory and enterprise financial performance theory, this article deeply analyzes the internal relationship between them. It is found that the tone of management not only directly affects the financial performance of enterprises by influencing the decision-making of market participants, but also indirectly affects the financial performance of enterprises by means of the relationship between internal management and external stakeholders, and the degree of industry competition, enterprise scale and other factors play a regulatory role. Accordingly, it is suggested that the management of the enterprise should keep the tone true and consistent, adopt different tone for different audiences and adjust the strategy in time; The regulatory authorities formulate clear disclosure norms, strengthen supervision and punishment, enhance investors' analytical ability, standardize tone disclosure, and promote the improvement of corporate financial performance and the healthy development of the market.

Keywords

Management tone; Enterprise financial performance; Text analysis; Information disclosure; Financial management