Restoring the Tower of Babel: How Foreign Firms Communicate with U.S. Investors

By Russell J. Lundholm, Rafael Rogo, J. Zhang. 2014

193 citations recorded by the source corpus.

Subfields: Accounting, Organizational Behavior and Human Resource Management

View Paper: https://www.semanticscholar.org/paper/5d99808627093eff127b004a8e0a22dfef3bc90a

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In Organizational Behavior and Human Resource Management

Citations in the corpus

Textual Analysis and International Financial Reporting: Large Sample Evidence (2015, unknown): “Also related, papers such as Brochet et al. (2013) study the impact of language distance on the complexity of conference call transcripts and Lundholm et al. (2013) examine use of numbers and textual clarity for foreign firms trading on US exchanges relative to US firms. a. Annual Report Length…”
Textual analysis in finance (2019, background): “Measuring the complexity of a text, Miller (2010) finds that more complex annual reports are associated with a lower trading volume of small investors and Lundholm et al. (2014) evidence that foreign firms make effort to produce more readable reports to compensate the geographic distance.”
Corporate Social Responsibility Report Narratives and Analyst Forecast Accuracy (2017, background): “Numerical Content Numerical and quantitative information is understood by users, i.e., investors/analysts, with stronger precision than narrative information (Lundholm et al. 2014).”
The impact of narrative disclosure readability on bond ratings and the cost of debt (2017, unknown): “…to the understanding of the nonquantitative factors used in bond ratings and therefore complements an emerging literature investigating the link between equity market investors and disclosure readability (You and Zhang 2009; Miller 2010; Lehavy et al. 2011; Lawrence 2013; Lundholm et al. 2014).”
Readability of 10‐K Reports and Stock Price Crash Risk (2019, unknown): “…Guay et al. (2016), Laksmana et al. (2012), Lang and Stice-Lawrence (2015), Lawrence (2013), Lee (2012), Lehavy et al. (2011), Lo et al. (2017), Lundholm et al. (2014), Merkley (2014), Miller (2010), Nelson and Pritchard (2016), and Rogers et al. (2014) for corporate disclosures; De Franco et…”
Readability of Narrative Disclosures in 10-K Reports: Does Managerial Ability Matter? (2018, unknown): “Prior studies show a range of determinants of the readability of narrative disclosures, including financial performance, earnings management, and the county of incorporation (Li, 2008; Lo et al., 2017; Lundholm et al., 2014).”
Does concrete language in disclosures increase willingness to invest? (2014, unknown): “…tone (Henry 2008; Kothari et al. 2009; Feldman et al. 2010; Demers and Vega 2011; Davis et al. 2012, 2014; Davis and Tama-Sweet 2012), vividness (Hales et al. 2011), and readability (Li 2008; You and Zhang 2009; Miller 2010; Rennekamp 2012; Lawrence 2013; Tan et al. 2013; Lundholm et al. 2014).”
Languages and earnings management (2017, background): “Lundholm et al. (2014), for example, find that foreign firms listed on U.S. stock exchanges write clearer text in the Management Discussion and Analysis section of their 10-Ks and write more readable text in their earnings press releases than do comparable U.S. firms.”