“…CEOs usually comment on the company's achievements, goals, prospects and future direction (Segars and Kohut, 2001) and can reveal important aspects of the CEO's leadership-through-language (Amernic and Craig, 2006). Letters may be intentional (Hyland, 1998), used to be perceived favorably (Boudt and Thewissen, 2019), to gain legitimacy, reputation, or trust (de-Miguel-Molina et al, 2019), for greenwashing (Hamza and Jarboui, 2022) or moral-washing (Alvesson and Einola, 2019). Likewise, as public documents, they require some objectivity and accountability and offer a unique glimpse into the CEO's mind difficult to obtain by other means (Yadav et al, 2007).…”