While multiple data vendors have claimed to offer a comprehensive international coverage of accounting and financial items for firms worldwide, there is a growing demand for better understanding of the differences across international databases. This paper compares several international...

As machines replace humans in financial markets, how is informational efficiency impacted? We shed light on this issue by exploiting a unique data-set that allows us to identify when machines access important company information (8-K filings) versus when humans access the same information. We...