This paper reviews the literature examining how costs of monitoring for, acquiring, and
analyzing firm disclosures–collectively,“disclosure processing costs”–affect investor …

Abstract The “Post-Earnings-Announcement Drift” refers to an anomaly in financial markets.
It describes the drift of a firm's stock price in the direction of the firm's earnings surprise for an …

We develop FinBERT, a state‐of‐the‐art large language model that adapts to the finance
domain. We show that FinBERT incorporates finance knowledge and can better summarize …

Spurred by the informational and disciplinary roles that the media fulfils, this study provides
initial evidence on how higher media coverage is associated with a lower tendency of firms …

Using a news-based gauge of geopolitical risk, we study its role in asset pricing in global
emerging markets. We find that changes in risk positively predict future stock returns. The …

I describe a brief summary of the development of databases used in accounting research
and discuss the research questions addressed in traditional databases and 'new'databases …

We explore whether cognitive constraints and behavioral biases impede the processing and
interpretation of soft information in private lending. Using data from a credit union's internal …

In the current world of the Big Data revolution, where a vast amount of information is
available to investors, attention is a scarce resource. The time, effort, and skill required to …

Using the Chinese stock market data, we test the hypothesis that cognitive dissonance
influences the stock market response to earnings news. Supporting this notion, we find that …

We propose the visual attention hypothesis that visuals in firm earnings announcements
increase attention to the earnings news. We find that visuals in firms' Twitter earnings …