Assessing the Impact of emotional tone and strategic topic density in Annual Reports on Abnormal Stock Returns: An Event Study in the Vietnam Stock Market.

Abstract

The relationship between non-financial messages including textual tone and the intensity of strategic themes in annual reports and cumulative abnormal stock returns of companies traded on the Vietnamese stock market; based on the empirical findings, the study proposes managerial implications aimed at improving the quality, specificity, and credibility of non-financial disclosures and enhancing the effectiveness of corporate communication with market participants.