“…Clinch & Verrecchia, 1997;Fishman & Hagerty, 1998;Penman, 1980;Verrecchia, 1983). In what is often referred to as the "narrative turn" in accounting research (Beattie, 2014), numerous scholars approached the verbal components of corporate documents such as annual and quarterly reports, earning announcements and takeover documents (Brennan, 1999;Brennan, Daly, & Harrington, 2010;Craig, Amernic, & Tourish, 2010;Rutherford, 2005). Here, methods for qualitative content analysis of small samples of documents or case studies are increasingly preferred to quantitative approaches (e.g.…”