The research in this thesis focuses on the ways in which participants represent highly charged negative emotional experiences in narrative form through vocal disclosures, and the relationships between disclosure style and psychophysiological activity. This thesis also attempts to theorise some of the psychophysiological mechanisms that may be associated with the effects of emotional disclosure. Participants were randomly assigned to an emotion (disclosure) group (n = 16) in which they talked about a particular highly charged negative experience, or a neutral (control) group (n = 16) in which they talked about their typical morning. Participants undertook these tasks on three separate occasions, each separated by one week. Skin conductance levels (SCLs) were measured throughout. Statistical analyses were conducted to look at possible SCL differences between the two groups and associations between the disclosure style and SCL variations. Although there were no statistically significant differences between the two groups' SCLs, there were significant differences in SCLs with regard to disclosure style. Qualitative narrative and discourse analyses were undertaken on 4 selected participants, chosen on the basis of clinically significant SCL moves. These analyses revealed that neutral participants also engaged in forms of emotional disclosure through forms of identity negotiation that were constructed within their talk concerning their typical mornings. The qualitative analysis also identified disclosure styles that may be associated with variations in psychophysiological activity.

In recent years, corporate textual disclosure has gained considerable attention in accounting and finance research. The textual disclosures complete the picture of a firm's economic performance in addition to the quantitative information. Many studies have investigated various determinants and consequences of textual disclosure attributes. This thesis aims to contribute to this growing strand of literature that studies the drivers of the textual attributes of narrative disclosure. The thesis consists of three essays related to political uncertainty, CEO characteristics, and corporate social responsibility. The first essay (Chapter 2) investigates the impact of political uncertainty on the informativeness of a firm's narrative disclosure. Using conference calls, the results show that firms exposed to political uncertainty provide less readable disclosure, more ambiguous tone, and rely more on scripted responses to analysts. Further analysis reveals that obfuscatory disclosure has predictive power over a firm's future poor performance, suggesting that managers use obfuscation to opportunistically mask poor future performance during high political uncertainty periods. The second essay (Chapter 3) examines the impact of the CEO's tenure on the firm's disclosure complexity. Based on upper echelon theory, the results show that early tenured CEOs with greater career concerns have more incentive to provide more readable disclosure to affect the market perception about their ability. However, long-tenured managers get more entrenched and provide obfuscated disclosure. In addition, the results indicate that the effectiveness of different governance mechanisms in improving the quality of a firm narrative disclosure depends on the CEO's tenure. In particular, board oversight (internal governance by subordinate executives) is more effective in constraining new (long-tenured) CEOs' myopic disclosure practices. The third essay (Chapter 4) explores the relationship between corporate social responsibility (CSR) orientation and textual attributes of financial disclosures. The results show that firms with high CSR orientation provide more readable disclosures and use a less ambiguous tone in their annual reports. These findings are consistent with the notion that managers in CSR-conscious firms adhere to high ethical standards and commit to improving the transparency of their firms' financial disclosures. In addition, the study provides evidence that corporate governance mechanisms and CSR are substitutes for each other to ensure transparent disclosure. Overall, the findings of these studies provide insights to the investing community, the firm's board of directors, and standards-setters to better understand the implications of firm CSR engagement, political exposure, and CEO characteristics in financial reporting contexts beyond quantitative metrics.