Hedging in the discourse of central banks

Resche, Catherine

doi:10.1016/j.scoms.2014.12.008

Cited by 18 publications

(40 citation statements)

References 10 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Another possible explanation is that this study used the publicly available English version of the CSR reports, while the original language of the CSR reports was Chinese. Therefore, the low percentage of hedges might be attributed to the differences in original languages of the reports examined by our study and by Resche (2015).…”

Section: The Relative Word Frequency Of Hedges In Written Languagementioning

confidence: 69%

See 1 more Smart Citation

Corporate social responsibility employment narratives: a linguistic analysis

Haque

2019

AAAJ

View full text Add to dashboard Cite

Purpose The purpose of this paper is twofold: first, it investigates whether and to what extent “linguistic hedging”, an impression management form of linguistic expression that conveys an ambiguous level of commitment, is used in corporate social responsibility (CSR) employment narratives; and second, it explores whether there is any difference in the use of linguistic hedging between written and spoken corporate forms of language. It mobilises these objectives by examining employee-related narratives made by electronic manufacturing services (EMS) providers domiciled in Taiwan, in the context of labour malpractice incidents. Design/methodology/approach Two groups of data are examined: corporate responsibility reports (written language) and interviews and speeches of corporate founders and senior executives (spoken language). The research sample is ten Taiwanese EMS firms, all of which attracted public criticism and scrutiny due to a series of employee-related incidents. The sample period is between 2009 and 2013. Linguistic hedging is measured quantitatively by the relative word frequency of hedges, using the concordance software ANTCONC, with findings interpreted through the lens of legitimacy theory and impression management. Findings The study found that hedging was evident in CSR narratives. The EMS providers in Taiwan appeared to use hedging in employee-related disclosures to manage legitimacy challenges due to employee-related incidents that had happened in their assembly plants. The adjustments in employee-related disclosures made by the EMS firms as a legitimation strategy can be seen as a rhetoric device of impression management or a form of symbolic legitimation to persuade society to restore their legitimacy status. Further, overall hedging was more frequently used in spoken than written language, which suggests that rhetorical hedging in written narratives is more likely to be a deliberate choice of tactics to influence stakeholder perceptions and thereby manage corporate legitimacy. Originality/value The study introduces a new analytical technique, linguistic hedging, into the CSR literature. This enriches research methods used in this field, providing more compelling insights into the relationship between the use of language and CSR narratives in the process of corporate legitimation of employee-related practices. This study thus provides a platform for future computational-linguistics studies in the field of CSR.

show abstract

Section: The Relative Word Frequency Of Hedges In Written Languagementioning

confidence: 69%

“…However, this study is comparable in dataset size with that of Resche (2015), who processed 210,915 words. Second, the validity of the quantitative method used by this study can be questioned.…”

Section: Resultsmentioning

confidence: 85%

Corporate social responsibility employment narratives: a linguistic analysis

Haque

2019

AAAJ

View full text Add to dashboard Cite

show abstract

“…Analysts’ attempts to balance the risk of assessment error, documented in the analyst behavior literature (Fogarty & Rogers, 2005), are visible in their use of implicit evaluation and mitigation strategies aimed at reducing their accountability for a potential error. The notions of mitigation and mitigators have been frequently addressed in the linguistic literature (Caffi, 1999; Fraser, 1980) but are only found in a handful financial communication studies (Crawford Camiciottoli, 2013; Resche, 2015). Mitigation can be seen as a set of communication strategies that allow speakers (understood as language users) to soften or reduce the strength of speech acts whose anticipated negative effects are unwelcome to the hearer and/or the speaker (Fraser, 1980).…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

“…Mitigators are defined as pragmalinguistic strategies that allow speakers to soften or reduce the strength of speech acts whose anticipated negative effects are unwelcome to the hearer, and/or to the speaker (Caffi, 1999; Fraser, 1980). This problem has only recently been recognized in the financial communication literature, notably by Crawford Camiciottoli (2013) and Resche (2015), who examine the use of evaluation and hedging devices. We follow this line of research by examining analysts’ use of mitigators and the effect this has on the credibility of their reports.…”

Section: Introductionmentioning

confidence: 99%

Evaluation Markers and Mitigators in Analyst Reports in Light of Market Response to Stock Recommendations

Klimczak

Dynel

2018

International Journal of Business Communication

View full text Add to dashboard Cite

Professionals and individuals who invest in equity markets rely on financial analysts’ recommendations and reports to decide on what to invest in and when to trade. This study examines the role of two groups of communication strategies, evaluation markers and mitigators, in establishing analysts’ credibility. The sample consists of 80 reports written in Polish for companies listed on the Warsaw Stock Exchange in Poland. In this emerging market setting, where credibility is challenged by uncertainty, analysts deploy various strategies depending on the recommendation they make: “buy,” “hold,” or “sell” shares. The findings point toward a specific group of mitigators, namely subjectivization, as a means of communicating expert opinion. Regression results reveal that investors’ reaction to the publication of a recommendation to “hold” or “sell” shares, measured based on the changes in share prices, is stronger when subjectivization is used in a report. The findings carry implications for research into analyst behavior and for the development of professional writing skills.

show abstract

“…Some studies look at how monetary policies are disseminated and/or represented in the mass media (cf., Berger, Ehrmann, and Fratzscher ). A few linguistically oriented studies focus on selected stylistic features or rhetorical devices of central bankers' official speeches (cf., Resche , ). Altogether these studies are, regardless of their scholarly rigor, studies “about,” not studies “of,” central bank communication, to allude to the useful ethnomethodological distinction (cf., Garfinkel, Lynch, and Livingston ).…”

Section: Introductionmentioning

confidence: 99%

Central Bank Transparency as a Dialogical Accomplishment

Kaderka

Leudar

Nekvapil

2017

Symbolic Interaction

View full text Add to dashboard Cite

This paper is a case study of the Czech central bank's communication with the public following the bank's decision to devalue the Czech currency. The aim is to contribute to knowledge of how central banks discharge their obligations to be transparent in communicating controversial decisions and actions. It is argued that transparency cannot be considered an individual act of the bank, but a joint dialogical accomplishment, which includes, among others, media and the public. The analysis of the interactions shows that the concepts of "dialogical networks" and "practical historians" are useful tools for elucidating how controversies in media develop over time.Text 1: CNB press release 1 CNB keeps interest rates unchanged, decides on interventions 2 7 Nov 2013 3 The CNB Bank Board decided at its meeting today to keep interest rates 4 unchanged. The two-week repo rate was maintained at 0.05%, the discount 5 rate at 0.05% and the Lombard rate at 0.25%. 6 The Bank Board also decided to start using the exchange rate as an additional 7 instrument for easing the monetary conditions. The CNB will intervene on 8 the foreign exchange market to weaken the koruna so that the exchange rate 9 of the koruna against the euro is close to CZK 27. 10 The history of the settings of the main instruments of monetary policy 11 and the Bank Board minutes are available at 12 14 Repo rate: The CNB's key monetary policy rate, paid on commercial banks' 15 excess liquidity as withdrawn by the CNB in two-week repo tenders. 16 Discount rate: A monetary policy rate which as a rule represents the floor for 17 short-term money market interest rates. The CNB applies it to the excess 18 liquidity which banks deposit with the CNB overnight under the deposit facility. 19 Lombard rate: A monetary policy interest rate which provides a ceiling for 20 short-term interest rates on the money market. The CNB applies it to the 21 liquidity which it provides to banks overnight under the lending facility. 22 Marek Petruš, CNB Spokesman

show abstract

Hedging in the discourse of central banks

Cited by 18 publications

References 10 publications

Corporate social responsibility employment narratives: a linguistic analysis

Corporate social responsibility employment narratives: a linguistic analysis

Evaluation Markers and Mitigators in Analyst Reports in Light of Market Response to Stock Recommendations

Central Bank Transparency as a Dialogical Accomplishment

Contact Info

Product

Resources

About