32 Language in organisation
is, a company’s performance report submitted annually to the Securities and
Exchange Commission – achieve higher returns on stocks and concluded that
markets and investors consider companies less willing to talk about future events
as riskier. Cheng et al. (2022) analysed firms across 31 countries and found that
tax avoidance is higher in countries with strong-FTR languages. They also
found that tax avoidance is more prevalent in Swiss regions with strong FTR
and in US firms whose CEOs were born in countries with strong FTR.
In the context of entrepreneurial financing, Di Pietro et al. (2023) showed at
country and individual levels that people who speak weak-FTR languages are
more actively engaged in crowdfunding ent ...