Non-GAAP earnings reporting has been linked with both informative and strategic incentives. We seek to disentangle these conflicting effects by examining the association between non-GAAP earnings disclosure and transitory items in GAAP earnings, conditional on managers' reporting incentives. We...

This paper examines the UK stock market's reaction to the appointment of outside (non-executive) board members. Tests conducted using a sample of 714 appointments reported by "EXTEL" between 1 July, 1993 and 31 December, 1996, indicate a strong interaction between appointee characteristics and...

We provide a methodological contribution by developing, describing and evaluating a method for automatically retrieving and analysing text from digital PDF annual report files published by firms listed on the London Stock Exchange (LSE). The retrieval method retains information on document...

We critically assess mainstream accounting and finance research applying methods from computational linguistics (CL) to study financial discourse. We also review common themes and innovations in the literature and assess the incremental contributions of work applying CL methods over manual...

We measure annual report commentary articulating entities' business model and strategy, and then examine the capital market effects of enhancing such disclosure. Our empirical disclosure proxy is based on n-grams drawn from popular strategy textbooks and the academic strategy literature....

We compare the performance of machine learning algorithms and wordlists at replicating manual coding of sentence-level tone and attribution in earnings press releases. We train learning algorithms on a sample of manually annotated performance sentences and assess accuracy using a separate...