This paper investigates the relationship between annual report disclosure, market liquidity, and capitalcost for firms registered on the Deutsche Börse. Disclosure is comprehensively measured using the innovativeArtificial Intelligence Measurement of Disclosure (AIMD). Results show that annual...

This study analyzes the accuracy of forecasted target prices within analysts’ reports. We compute a measurefor target price forecast accuracy that evaluates the ability of analysts to exactly forecast the ex-ante (unknown)12-month stock price. Furthermore, we determine factors that explain...

We analyze the role of intermediaries in electronic markets using detailed data of more than 14,000 originated loans on an electronic P2P (peer-to-peer) lending platform. In such an electronic credit market, lenders bid to supply a private loan. Screening of potential borrowers and the...