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...

While it is widely acknowledged that companies face increasing cybersecurity risk stemming from hackers stealing customer information, a relatively unknown cybersecurity risk is from information leakage and subsequent trading by digital insiders – hackers who target corporations to obtain...