Natural language is a key form of communication in the capital markets. Textual analysis is the application of Natural Language Processing (NLP) to textual data for automated information extraction or measurement. We survey publications in top accounting journals and describe the trend and...

The prominence of textual data in accounting research has increased dramatically. To assist researchers in understanding and using textual data, this monograph defines and describes common measures of textual data and then demonstrates the collection and processing of textual data using the...

This study examines changes in SEC enforcement and firm cooperation after the SEC introduced its new cooperation program in 2010. While previous research shows that the SEC penalized cooperative firms prior to 2010, our results suggest that after that year, it rewarded cooperation, especially...

When hiring new workers, employers often screen large numbers of written applications before selecting a subset for more costly, in-person interviews. A large literature suggests that information frictions lead to screening on imperfect quality signals - e.g., educational pedigree and...

Recent evidence suggests that investors struggle to process complex financial disclosures. Relative to equity and public debt investors, banks have unique advantages in acquiring information and can impose contractual terms to mitigate information frictions. We investigate whether financial...