Leverage manipulation and strategic disclosure: evidence from non-financial information in annual reports based on multimodal machine learning
This study adopts multi-modal machine learning to deeply interpret corporate non-financial information and explore the influence of corporate leverage manipulation on non-financial information disclosure. It is found that enterprises will strategically disclose non-financial information when impleme...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2024-07-01
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| Series: | China Journal of Accounting Studies |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/21697213.2023.2300296 |
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| author | Jianhua Tan Yipu Li Tiancheng Gao Jun Pan |
| author_facet | Jianhua Tan Yipu Li Tiancheng Gao Jun Pan |
| author_sort | Jianhua Tan |
| collection | DOAJ |
| description | This study adopts multi-modal machine learning to deeply interpret corporate non-financial information and explore the influence of corporate leverage manipulation on non-financial information disclosure. It is found that enterprises will strategically disclose non-financial information when implementing leverage manipulation, that is, the emotion of non-financial information text is more positive, farther away and more difficult. Based on the motivation of leverage manipulation, when enterprises face greater pressure of ‘deleveraging’ policy and stronger financing constraints, enterprises are more inclined to disclose non-financial information strategically when implementing leverage manipulation. Further, the dual motives of leverage manipulation are explored deeply. For the samples with high ‘deleveraging’ policy pressure such as state-owned enterprises and high media attention, and the samples with strong financing constraints such as high short-term debt repayment pressure and high debt financing cost, the positive relationship between leverage manipulation and strategic disclosure of non-financial information is more significant. |
| format | Article |
| id | doaj-art-e9c496a844e344a2b87e1d9c3d859049 |
| institution | OA Journals |
| issn | 2169-7213 2169-7221 |
| language | English |
| publishDate | 2024-07-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | China Journal of Accounting Studies |
| spelling | doaj-art-e9c496a844e344a2b87e1d9c3d8590492025-08-20T02:07:01ZengTaylor & Francis GroupChina Journal of Accounting Studies2169-72132169-72212024-07-0112355059010.1080/21697213.2023.2300296Leverage manipulation and strategic disclosure: evidence from non-financial information in annual reports based on multimodal machine learningJianhua Tan0Yipu Li1Tiancheng Gao2Jun Pan3School of Government Audit, Nanjing Audit University, Nanjing, Jiangsu, ChinaSchool of Accounting, Nanjing Audit University, Nanjing, Jiangsu, ChinaFaculty of Business and Economics, University of Melbourne, Victoria, AustraliaSchool of Accounting, Nanjing Audit University, Nanjing, Jiangsu, ChinaThis study adopts multi-modal machine learning to deeply interpret corporate non-financial information and explore the influence of corporate leverage manipulation on non-financial information disclosure. It is found that enterprises will strategically disclose non-financial information when implementing leverage manipulation, that is, the emotion of non-financial information text is more positive, farther away and more difficult. Based on the motivation of leverage manipulation, when enterprises face greater pressure of ‘deleveraging’ policy and stronger financing constraints, enterprises are more inclined to disclose non-financial information strategically when implementing leverage manipulation. Further, the dual motives of leverage manipulation are explored deeply. For the samples with high ‘deleveraging’ policy pressure such as state-owned enterprises and high media attention, and the samples with strong financing constraints such as high short-term debt repayment pressure and high debt financing cost, the positive relationship between leverage manipulation and strategic disclosure of non-financial information is more significant.https://www.tandfonline.com/doi/10.1080/21697213.2023.2300296Leverage manipulationnon-financial informationdisclosure strategyaccounting information quality |
| spellingShingle | Jianhua Tan Yipu Li Tiancheng Gao Jun Pan Leverage manipulation and strategic disclosure: evidence from non-financial information in annual reports based on multimodal machine learning China Journal of Accounting Studies Leverage manipulation non-financial information disclosure strategy accounting information quality |
| title | Leverage manipulation and strategic disclosure: evidence from non-financial information in annual reports based on multimodal machine learning |
| title_full | Leverage manipulation and strategic disclosure: evidence from non-financial information in annual reports based on multimodal machine learning |
| title_fullStr | Leverage manipulation and strategic disclosure: evidence from non-financial information in annual reports based on multimodal machine learning |
| title_full_unstemmed | Leverage manipulation and strategic disclosure: evidence from non-financial information in annual reports based on multimodal machine learning |
| title_short | Leverage manipulation and strategic disclosure: evidence from non-financial information in annual reports based on multimodal machine learning |
| title_sort | leverage manipulation and strategic disclosure evidence from non financial information in annual reports based on multimodal machine learning |
| topic | Leverage manipulation non-financial information disclosure strategy accounting information quality |
| url | https://www.tandfonline.com/doi/10.1080/21697213.2023.2300296 |
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