The DOI matches its Crossref record; 61 of the 61 references it cites were found in a registry or an index.
The Effects of Reporting Complexity on Small and Large Investor Trading
Open accessAbstract
ABSTRACT: This study examines the effects of financial reporting complexity on investors’ trading behavior. I find that more complex (longer and less readable) filings are associated with lower overall trading, and that this relationship appears due to a reduction in small investors’ trading activity. Additional evidence suggests that the association between report complexity and lower abnormal trading is driven by both cross-sectional variation in firms’ disclosure attributes and variations in disclosure complexity over time. Given regulatory concerns over plain English disclosures and the trend toward more disclosure, my investigation into the effects of reporting complexity on small and large investors should be of interest to regulators concerned with reporting clarity and leveling the playing field across classes of investors.
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Cites
A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity
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Continuous Auctions and Insider Trading
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A Simple Model of Capital Market Equilibrium with Incomplete Information
MERTON, R. C. (1987) · The Journal of Finance · doi:10.1111/j.1540-6261.1987.tb04565.x · Cited by 5,811
Giving content to investor sentiment: The role of media in the stock market
TETLOCK, P. C. (2007) · The Journal of Finance · doi:10.1111/j.1540-6261.2007.01232.x · Cited by 4,827
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(2020) · Foundations of Modern Econometrics · doi:10.1142/9789811220197_0001 · Cited by 3,457
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Botosan, C. A. (1997) · The Accounting Review · doi:10.2308/tar-9709240185 · Cited by 3,436
Inferring Trade Direction from Intraday Data
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Annual report readability, current earnings, and earnings persistence
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Cited by
Textual Analysis in Accounting and Finance: A Survey
LOUGHRAN, T., & MCDONALD, B. (2016) · Journal of Accounting Research · doi:10.1111/1475-679x.12123 · Cited by 2,261
Measuring Readability in Financial Disclosures
LOUGHRAN, T., & MCDONALD, B. (2014) · The Journal of Finance · doi:10.1111/jofi.12162 · Cited by 1,446
LI, F. (2010) · Journal of Accounting Research · doi:10.1111/j.1475-679x.2010.00382.x · Cited by 1,360
Disclosure processing costs, investors’ information choice, and equity market outcomes: A review
Blankespoor, E., deHaan, E., & Marinovic, I. (2020) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2020.101344 · Cited by 1,076
The evolution of 10-K textual disclosure: Evidence from Latent Dirichlet Allocation
Dyer, T., Lang, M., & Stice-Lawrence, L. (2017) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2017.07.002 · Cited by 841
Metadata
- Authors
- Miller, B. P.
- Venue
- The Accounting Review
- Publisher
- American Accounting Association
- Published
- 2010-11-01
- Volume
- 85
- Issue
- 6
- Pages
- 2107-2143
- ISSN
- 0001-4826 (ISSN-L)
- 1558-7967
- OpenAlex
- W3124613598
- Cited by
- 801
- References
- 61
- FWCI
- 47.27
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
