A firm makes several financial reporting and disclosure decisions in a short period of time. Seemingly unrelated decisions may be correlated because of stability in management traits or the continuation of a firm's accounting information system. We find that firms with greater deviations from...

Using textual analysis methods, we investigate the information content of government financial disclosure and its implications. Specifically, we establish several stylized facts using the comprehensive annual financial reports (CAFRs) issued by municipal entities. We first document large...

When quantifying qualitative information from unstructured textual data, traditional bag-of-words approaches capture only semantic features of single words/phrases. The context, the sequence of words, and the relations among words (i.e., higher-order interaction features) are ignored. We...