We present a novel approach for measuring executive personality traits. Relying on recent developments in machine learning and artificial intelligence, we utilize the IBM Watson Personality Insights service to measure executive personalities based on CEOs' and CFOs' responses to questions raised...

We analyse the relationship between the complexity of corporate social responsibility (CSR) disclosure and actual CSR performance, and postulate a positive association between actual CSR performance and readability and the size of CSR disclosure documents. Using several readability and...

We compare the Standard Industry Classification (SIC), the North American Industry Classification System (NAICS) and the Global Industry Classification Standard (GICS) schemes in their effectiveness to group stocks with similar operating characteristics. We are the first to analyse and compare...

On 23 April 1997, the Toronto Stock Exchange closed its trading floor, making it at that time the second-largest stock exchange in North America to choose a purely electronic trading environment for its equities. Exploiting this natural experiment, we find that the move to electronic trading...

We utilize the IBM Watson Personality Insights service to analyze CEOs' verbal communication during conference calls to infer CEOs' Big Five personality traits, which we employ to estimate their risk tolerance levels. We then explore whether the misalignment of CEO risk tolerance and governance...

We investigate how a borrower’s adverse climate-related incidents affect bank loan contracting. Using a sample of 2,622 publicly traded US firms over the period 2000–2016, we construct event-based measures of corporate climate performances based on firm-level adverse climate incidents such...

Exploiting interstate branching deregulations as exogenous shocks to banking market competition, we examine the impact of increased market competition on shareholder voting in the U.S. banking industry. Voting is one of the primary mechanisms through which shareholders participate in corporate...

We examine whether the post-earnings announcement drift (PEAD) varies cross-sectionally with short-horizon return predictability from order flows, which characterizes the information environment and reflects the extent to which information is efficiently impounded in prices. We first demonstrate...