[1] L.S. Bamber, O.E. Barron, and T.L. Stober, Trading volume and different aspects of disagreement coincident with earnings announcements, Account. Rev. 72 (1997), no. 4, 575–597.
[2] M.S. Beasley, An empirical analysis of the relation between the board of director composition and financial statement fraud, Account. Rev. 71 (1996), no. 4, 443–465.
[3] L.S. Bamber, O.E. Barron, and T.L. Stober, Trading volume and different aspects of disagreement coincident with earnings announcements, Account. Rev. 72 (1997), no. 4, 575–597.
[4] S. Bhagat and B. Black, The non-correlation between board independence and long-term firm performance, J. Corp. Law, 27 (2002), no. 2, 231–273.
[5] S. Brown and S.A. Hillegeist, How disclosure quality affects the level of information asymmetry, Rev. Account. Stud. 12 (2007), no. 2-3, 443–477.
[6] J.E. Core, R.W. Holthausen, and D.F Larcker, Corporate governance, chief executive officer compensation, and firm performance, J. Financ. Econ. 51 (1999), no. 3, 371–406.
[7] A.K. Davis, J.M. Piger, and L.M. Sedor, Beyond the numbers: Measuring the information content of earnings press release language, Contemp. Account. Res. 29 (2012), no. 3, 845–868.
[8] A.K. Davis and I. Tomasevic, A comparison of alternative tone measures in earnings conference calls, Working Paper, University of Oregon, 2012.
[9] P.R. Demerjian, B. Lev, and S.E. McVay, Quantifying managerial ability: A new measure and validity tests, Manag. Sci. 58 (2012), no. 7, 1229–1248.
[10] R. Feldman, S. Govindaraj, J. Livnat, and B. Segal, Management’s tone change, post earnings announcement drift and accruals, Rev. Account. Stud. 15 (2010), no. 4, 915–953.
[11] J. Francis, R. LaFond, P.M. Olsson, and K. Schipper, The market pricing of accruals quality, J. Account. Econ. 39 (2005), no. 2, 295–327.
[12] D.C. Hambrick and J.W. Fredrickson, Are you sure you have a strategy?, Acad. Manag. Execut. 15 (2001), no. 4, 48–59.
[13] E. Henry, Are investors influenced by how earnings press releases are written?, J. Bus. Commun. 45 (2008), no. 4, 363–407.
[14] X. Huang, S.H. Teoh, and Y. Zhang, Tone management, Account. Rev. 89 (2014), no. 3, 1091–1129.
[15] M. Kazemi Olum, M. Abdi, H. Zalqi, and H. Jalalund, The impact of financial reporting readability on audit project risk criteria, Account. Audit. Rev. 27 (2019), no. 2, 202–230.
[16] A. Klein, Audit committee, board of director characteristics, and earnings management, J. Account. Econ. 33 (2002), no. 3, 375–400.
[17] S.P. Kothari, A.J. Leone, and C.E. Wasley, Performance matched discretionary accrual measures, J. Account. Econ. 39 (2005), no. 1, 163–197.
[18] M. H. Lang and R.J. Lundholm, Corporate disclosure policy and analyst behavior, Account. Rev. 71 (1996), no. 4, 467–492.
[19] D.F. Larcker, S.A. Richardson, and I. Tuna, Corporate governance, accounting outcomes, and organizational performance, Account. Rev. 82 (2007), no. 4, 963–1008.
[20] F. Li, Annual report readability, current earnings, and earnings persistence, J. Account. Econ. 45 (2008), no. 2-3, 221–247.
[21] T. Loughran, and B. McDald, When is a liability not a liability? Textual analysis, dictionaries, and 10-Ks, J. Finance 66 (2011), no. 1, 35–65.
[22] R.E. Miles and C.C. Snow, Organizational Srategy, Structure, and Process, McGraw-Hill, New York, 1978.
[23] M. Mir Ali, F. Gholami Moghadam, and R. Hesarzadeh, Investigating the relationship between financial reporting tone and future company performance and market returns, Financ. Account. Knowledge 5 (2017), no. 3, 81–98.
[24] S. Mirzaei, M.R. Abdoli, and A. Koshki Jahormi, Investigating the effect of pessimistic tone of financial reporting on bold financial reporting: protection of shareholders’ rights, Exper. Stud. Financ. Account. 16 (2019), 65.
[25] M. Moradi, N. Ghadimi, and M. Torabi, Sentiment analysis of annual reports: A hybrid approach, Int. J. Data Anal. Tech. Strateg. 5 (2013), no. 2, 152–171.
[26] M. Norouzi, K. Azinfar, I. Abbasi, and I. Dadashi, Designing a model and evaluating the moderating role of management ability on the relationship between financial reporting readability and agency cost, Financ. Account. Res. 12 (2019), no. 1, 1–18.
[27] M.E. Porter, Competitive strategy: Techniques for analyzing industries and competitors, New York: Free Press, 2004.
[28] Y. Rezaipitenoi and M. Safari Graili, Legibility of financial reporting and the possibility of fraudulent financial reporting, Financ. Account. Res. 10 (2017), no. 4, 43–58.
[29] B. Shafizadeh, S.A. Hosseini, A. Rahmani, and M. Soltani, The role of financial reporting, transparency and corporate governance in protecting investors’ rights, Stock Exchange Quart. 11 (2017), no. 42, 74–95.