We study the effect of expected regulatory and litigation costs embedded in a country’s institutional environment on the explanatory content of management commentary reports. Using a behavioural accountability lens, we argue that regulatory control and expected litigation risk affect the...

Purpose Using composite style measures of the letter to shareholders, the purpose of this paper is to elaborate dominant rhetorical profiles and qualify them from an impression management (IM) perspective. In addition, the paper examines how institutional differences affect rhetorical profiles...