We examine how information processing cost affects investors' acquisition of firm-specific information using a natural experiment resulting from a recent mandate that US firms be required to adopt the eXtensible Business Reporting Language (XBRL) when submitting filings to the SEC. XBRL filings...

We construct a new, parsimonious, measure of disclosure quality — disaggregation quality (DQ) — and offer validation tests. DQ captures the level of disaggregation of accounting data through a count of nonmissing Compustat line items, and reflects the extent of details in firms' annual...

We construct a new, parsimonious, measure of disclosure quality – disaggregation quality (DQ) – and offer validation tests. DQ captures the level of disaggregation of accounting data through a count of non-missing Compustat line items, and reflects the extent of details in firms' annual...

We examine the voluntary disclosure behavior of peer firms of hostile takeover targets. We find that peer firms under control threat use a disclosure strategy that emphasizes bad news: they provide more bad news forecasts, tend to bundle bad news forecasts with earnings announcements, use more...