Linking Financial Performance with CEO Statements: Testing Impression Management Theory

The purpose of this study was to analyze the impact financial performance on tone used in chief executive officer (CEO) statements South Africa’s (SA) top 40 JSE-listed companies 2021 year. This implements quantile regression analysis and generalized linear model. To perform assessment, integrated annual reports (IARs) containing CEO for were extracted from their official websites. level determined using Azure Machine Learning (AML). study’s findings reveal that has a positive companies, i.e., as improves, also increases. Additionally, results revealed moderately extremely profitable use more tone. It is recommended users should carefully scrutinize statements, identify whether or not it aimed at concealing poor motivated by good performance. contributes limited tone-management literature developing countries SA particular. computerized techniques offered both Statistical Package Social Sciences (SPSS) AML secures validity reliability content analysis, therefore, shortcomings do compromise generalizability results. sample truly represents all JSE’s listed companies.