Relative to quantitative methods traditionally used in accounting and finance, textual
analysis is substantially less precise. Thus, understanding the art is of equal importance to …

In business research, firm size is both ubiquitous and readily measured. Complexity, another
firm-related construct, is also relevant, but difficult to measure and not well-defined. As a …

Managers with higher risk incentives (greater options vega) issue less readable disclosures.
Firms in the top quartile of vega file annual reports that are about 15.4% more voluminous …

The size and composition of the 10‐K file have changed dramatically since the mandatory
adoption of XBRL. We re‐examine 10‐K file size as a readability proxy by decomposing 10 …

We study the effect of official statement textual complexity on municipal borrowing costs
(yield) through the clientele channel. Theoretically, complexity reduces signal quality for …

In this paper, we automatically create sentiment dictionaries for predicting financial
outcomes. We compare three approaches:(I) manual adaptation of the domain-general …

How should a monopolistic seller (she) sell an item to a buyer (he), when the buyer's later
demands are affected by the earlier allocations he receives? For example, consider an …

With rising political debates about the role of environmental, social, and corporate
governance (ESG), companies must rethink their prioritization of different stakeholder …

Accurate credit ratings are an essential ingredient in the decision-making process for
investors, rating agencies, bond portfolio managers, bankers, and policy makers, as well as …

This paper examines the behaviour of stock prices and analysts' earnings forecasts
following firms' increasingly complex 10‐K filings. Our evidence suggests that greater …