I document trends in emissions and emission disclosure for a sample of 141 large firms that were active within the EU Emissions Trading System during its third phase (2013-2019). Using text from annual reports, I document a rising share of emissions-related information. However, my measure of...

We construct an index for economic policy uncertainty in Denmark using articles in Denmark's largest financial newspaper. We adapt a Latent Dirichlet Allocation (LDA) model to sort articles into topics. We combine article-specific topic weights with the occurrence of words describing uncertainty...

We use data for nearly 800,000 Danish families to examine whether high household leverage prior to the financial crisis may have amplified the reduction in household spending over the course of the crisis. We find a strong negative correlation between pre-crisis leverage and the change in...

The sentiment of news predicts the short-term stock market performance of individual companies. We find that this association is solely due to the idiosyncratic informational content of an article. We transparently quantify the association between news sentiment and stock market performance of...