Communication Strategies in Financial Disclosure

Communication is concerned with “messages, information, meaning, and symbolic activity” (Putnam and Cheney, 1985, p. 131) and affects every aspect of our daily lives. It shapes our matrix of appreciation and perception, determining how we make sense of the world around us and how we perceive ourselves and others. It is both constitutive of and a product of social relationships. For any business organization, communication plays a crucial role in managing relations with external parties. 

Corporate reporting is a primary means by which corporations communicate with investors and other stakeholders, providing information about both financial and increasingly, non-financial — namely, the social and environmental aspects of their activities.

The course focuses on the most recent innovations in corporate disclosure that address the new challenges companies face in the ‘age of corporate responsibilization’ (Reinecke & Ansari, 2016). It also explores the often-overlooked importance of inherent subjectivity in corporate communication (Stenka, 2021).

Outline of the Syllabus

1. Forms of Corporate Disclosure and the Evolution of Corporate Reporting
2. Main Stakeholders and Interest Groups
   • Exploring the key players in the field where corporate (financial and non-financial) disclosure has developed over time
3. Recent Innovations in Corporate Reporting
   • Focus on the ‘enlightened’ shareholder - new forms of sustainability reporting
4. Economic and Social Implications of Corporate Reports
   • Examining the impact of numerical and narrative information on capital markets and society
5. Persuasive and Performative Aspects of Disclosure
6. Communication Strategies in the Corporate Arena
   • Analysis of various communication strategies - oppositional versus ‘bridging’ rhetoric
7. Crisis of Legitimacy and Corporate Scandals

The course's main objective is to explore why communication within corporate reporting deserves careful scrutiny—not just in what corporate actors say, but in how they say it and the specific legitimation strategies they use.

The course will focus on the most recent innovations in corporate reporting that respond to the growing expectation within society that businesses should be accountable for more than just the financial aspects of their activities. In this new era of enlightened corporate citizenship, businesses must act, or at least be seen to act, in ways that consider broader sustainability issues.

In presence

The course examines relevant theoretical frameworks while incorporating a strong practical element, using real-world examples and illustrations from the corporate world. Students will be expected to demonstrate how the theoretical foundations they have learned during the course can be applied to better understand current corporate reporting practices.

In addition to attending classes, students will be required to prepare and deliver presentations on relevant topics and engage in group discussions informed by both academic and professional literature.

Students will have opportunities to develop transferable skills such as teamwork and leadership, as well as critical thinking and analytical engagement with complex subject material.

• oral group presentation (20%)
• closed book written exam (80%)