Beyond Corporate Financial Disclosure: Impact of Abnormal Tone on Stock Price Crash Risk in China

The abnormal tone of corporate financial disclosures has recently received much academic attention. Despite China’s status as the world’s second-largest economy, studies in disclosure, especially on its influence stock price crash risk, remain scarce. Therefore, we investigated disclosure Chinese listed enterprises using Python and empirically tested relationship between risk. results show a positive Further, may signal potential managers could conceal managerial opportunism by adopting an disclosure. policymakers must be aware tones thereby strengthen relevant assessment