In response to the increasing use of computer programs to process firm disclosures, this registered report develops a new measure of “scriptability” that reflects computerized, rather than human, information processing costs. We validate our measure using SEC filing‐derived data from prior...

Motivated by concerns that financial positions present a conflict of interest that impairs an analyst's objectivity, we examine investor perceptions of the financial positions of non-professional analysts (hereafter NPAs) providing stock analysis on the social media outlet SeekingAlpha...

We examine the influence of corporate social responsibility on the information dissemination behavior of social media analysts (SMAs). We find that SMAs give greater coverage to the earnings announcements of socially responsible firms (SRFs) compared to other firms, particularly for good news...

We examine tone dispersion, or the degree to which tone words are spread evenly within a narrative, to evaluate whether narrative structure provides insight into managers' voluntary disclosures and users' responses to those disclosures. We find that positive and negative tone dispersion are...

We investigate whether accounting conservatism, which has been found to be effective in constraining management opportunism in other settings, constrains upward tone management (UTM) in the MD&A. We hypothesize that conservatism makes it harder for managers to opportunistically downplay bad news...