RT Journal Article
T1 Tone and content analysis in the president’s letters to shareholders: Spanish evidence
A1 Bonsón Ponte, Enrique
A1 Perea El Khalifi, David
A1 Azevedo, Graça
AB This article explores the potential factors that might be influencing the length and tone of the discourse of theIBEX35 presidents’ letters to shareholders. It also provides an analysis of their content. The methodological framework of theresearch relies on the impression management theory, that is, how companies want to present themselves, in a way that contributesto their goals. The research uses an automatic process of textual analysis, through R and Voyant Tools. For tone andlength analysis, we used a total of 187 letters corresponding to the years 2013–2018, and for content analysis, a larger sampleof 321 letters corresponding to the years 2008–2018. According to the research findings, there was a greater positive tonewhen the profits after taxes decreased and when the directors’ remuneration increased with respect to the previous year. Regardingcontent, the research shows that there are differences between non-financial and financial companies. In conclusion,our findings, which show that in certain situations the tone of discourse changes, are supported by and contribute to impressionmanagement theory. The study may be of interest to shareholders to better understand the content of the chairpersons’letters.
PB Ural State University of Economics
SN 2686-7923
YR 2021
FD 2021-03
LK http://hdl.handle.net/10272/19780
UL http://hdl.handle.net/10272/19780
LA eng
NO Bonsón Ponte, E., Perea, D., & Azevedo, G. (2021). Tone and content analysis in the president’s letters to shareholders: Spanish evidence. Upravlenets, 12(1), 78–90. DOI: https://doi.org/10.29141/2218-5003-2021-12-1-6
NO This work was prepared with the financial support of the FEDER Andalusia 2014-2020 Operational Program (project UHU-1253498: “Challenges and opportunities for social media in the business and public sector in Andalusia”).
DS Repositorio Institucional de la Universidad de Huelva
RD 31 may 2026