Using a machine learning approach to process 11 million tweets posted by S&P 1500 firms from 2011 through 2016, we find that poor corporate social responsibility (CSR) performance firms tweet more about CSR activities and use tweets that are shorter, and with more passive voice and extreme tone....

This paper uses transaction-level fund trading data from the United States to study the information advantage of institutional investors. Our research design follows a two-step procedure. In the first step, we identify funds that sell shares in firms before their unexpected revelation of stock...