This paper analyzes the usefulness of the forward-looking information disclosed in the annual report based on the 2011-2016 financial report of listed companies. We construct a new forward-looking information disclosure index based on the forward-looking information in the annual report...

This paper investigates the effects of managerial myopia on investment behaviors in China. We construct a new indicator to measure managerial myopia by text analysis and machine learning methods based on the management discussion and analysis (MD&A) in A-share listed company's annual reports...

There has been a financial revolution lead by the technology firms over the past decade. Many large established technology giants, from Google, Apple to Amazon in the U.S. are entering the financial service industry. Smaller start-ups, in particular robotic advisors, a.k.a. robo-advisors, have...