Proceedings of the 6th International Conference on Internet Finance and Digital Economy (ICIFDE 2026)

6th International Conference on Internet Finance and Digital Economy (ICIFDE 2026)

📍Guiyang, China🗓️ 28-30 August 2026
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Strategic Characteristics of ESG Disclosure in the Context of Financial Restatements—Text Analysis Based on Wuliangye

Authors
Xuan Guo1, *, Qingge Wu2
1School of Management, Chengdu University of Information Technology, Chengdu, 610103, China
2Advanced Institute of Finance, Henan University, Zhengzhou, 450046, China
*Corresponding author. Email: Breton1001@163.com
Corresponding Author
Xuan Guo
Available Online 14 November 2026.
DOI
10.2991/978-94-6239-830-6_30How to use a DOI?
Keywords
Financial Restatement; ESG Disclosure; Strategic Information Disclosure; Legitimacy Theory; Impression Management Theory; Signaling Theory
Abstract

On April 30, 2026, Wuliangye simultaneously issued a correction of prior accounting errors and its 2025 ESG report, creating a window to examine how financial restatements shape non-financial disclosure. Drawing on legitimacy, impression management, and signaling theories, this study applies Python-based textual coding to the 2024 and 2025 ESG reports. The findings reveal five strategic disclosure patterns—including governance reinforcement, positive narration, selective omission, and information offsetting—that together serve to repair legitimacy and manage impressions after the restatement. The study highlights the strategic interplay between financial and non-financial information during corporate crises, with implications for regulators and investors.

Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 6th International Conference on Internet Finance and Digital Economy (ICIFDE 2026)
Series
Advances in Economics, Business and Management Research
Publication Date
14 November 2026
ISBN
978-94-6239-830-6
ISSN
2352-5428
DOI
10.2991/978-94-6239-830-6_30How to use a DOI?
Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Xuan Guo
AU  - Qingge Wu
PY  - 2026
DA  - 2026/11/14
TI  - Strategic Characteristics of ESG Disclosure in the Context of Financial Restatements—Text Analysis Based on Wuliangye
BT  - Proceedings of the 6th International Conference on Internet Finance and Digital Economy (ICIFDE 2026)
PB  - Atlantis Press
SP  - 349
EP  - 355
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-830-6_30
DO  - 10.2991/978-94-6239-830-6_30
ID  - Guo2026
ER  -