We develop novel machine learning algorithms to construct metrics of visual readability in firms' annual reports. Firms increase their use of imagery content when there is more news coverage and greater asset growth during the year. Consistent with improvements in the information environment, an...

We develop a novel approach to identify characteristics of images that are likely to, and found to, affect investment decisions. We also create new methodologies to quantify these characteristics. We hypothesize and find that our newly developed machine learning-based measure of...

We develop a novel approach to identify characteristics of images that are likely to, and found to, affect investment decisions. We also create new methodologies to quantify these characteristics. We hypothesize and find that our newly developed machine learning-based measure of...