Technological advances are creating a shift in the information disclosure environment allowing more investors to interact with management. We examine three key levels of trader-management interaction to assess the accuracy of traders' market-tested value estimates and resulting market price....

Technological advances are creating a shift in the information disclosure environment allowing more investors to interact with management. We examine three key levels of trader-management interaction to assess the accuracy of traders' market-tested value estimates and resulting market price....

We use experimental markets to examine how pushing investment information and the value relevance of that information interact to influence investors' value estimate accuracy and market price efficiency. Developments in technology allow information to be pushed to investors anytime and anywhere....

Managers appear to strategically use discretion over disclosure language to reduce the effect of bad news and/or amplify the effect of good news. We test how a cautionary notice highlighting management's discretion over disclosure language affects investors' reactions to more and less readable...

Firms often include summaries with earnings releases. However, manager-generated summaries may be prone to strategic tone and content management compared to the disclosures they summarize. In contrast, computer algorithms can summarize large amounts of text without human intervention, and may...

Standard setters struggle with the costs and benefits of separate recognition of intangible assets in business combinations. In this study, we experimentally show that separately identifying intangibles enables investors to more easily envision how an acquiring company can benefit from an...