Adopts an empirical approach to demonstrate that a marked difference exists between the terms “readability” and “understandability”, suggesting that “reading ease”, as measured by formulae like FLESCH and LIX based on word and sentence complexity, conveys data which may be different...

We investigate whether gambling-motivated retail trading generates mispricing among firms with extreme negative news. Employing a novel accounting-based measure of failure propensity conveyed by the going-concern (GC) audit opinions, we show that gambling-induced trading in GC firms with...