This article examines the factors contributing to the disparity in managers' disclosure tone from a signalling perspective. According to this viewpoint, managers intentionally choose their tone to convey information to the market. To determine the origin of tone inconsistency, we explored the...

The present research investigates the relationship between managers’ disclosure tone and the trading volume of small and large investors separately. The inconsistency of disclosure tone and abnormal trading volume generally indicates information asymmetry between managers and investors....

The primary goal of this study was to investigate the effects of changes in corporate governance elements on a company’s valuable resources (such as intellectual capital and its components). Previous studies have examined the impacts of some corporate governance characteristics on intellectual...