This paper analyzes trading records of online retail bank investors to examine whether attention-type events dominate return feedback strategies in explaining individual investors' stock option trading decisions. We show that although individual investors are net buyers of common stock on...

Firms often include summaries with earnings releases. However, manager-generated summaries may be prone to strategic tone and content management compared to the disclosures they summarize. In contrast, computer algorithms can summarize large amounts of text without human intervention, and may...