Public companies report “the most significant factors that make” their common stock ”speculative or risky” in section “Item 1A. Risk Factors” of their annual filings. This paper uses textual analysis to estimate common risks from Item 1A texts and study these risks' effect on public...

Much research has focused on emission-based instruments for pollution control, but indirect approaches that control input use or production technologies are often used. This article derives a simple rule for evaluating the relative efficiency of input-use taxes and standards in the presence of...