Large-Sample Evidence on Firms’ Year-Over-Year MD&A Modifications

By Stephen V. Brown, Jennifer Wu Tucker. 2011

552 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/c1e058ef9d7a8f4771fc15fe58225c2c1023f93f

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Citations in the corpus

Analyst Information Discovery and Interpretation Roles: A Topic Modeling Approach (2018, unknown): “Finally, we control for the length of the combined prompt analyst reports ( _ ), because Brown and Tucker (2011) find that measures based on cosine similarity are positively correlated with document length.”
Is forward-looking financial disclosure really informative? Evidence from UK narrative statements (2015, methodology): “In a recent paper, Brown and Tucker (2011) find that firms with larger changes in their economic environment change their narratives more than those with smaller economic changes.”
Readability of 10‐K Reports and Stock Price Crash Risk (2019, unknown): “…other sections of the reports, such as the Management Discussion and Analysis, provide investors with new and important supplementary information (Brown and Tucker 2011; Feldman et al. 2010; Griffin 2003; Jegadeesh and Wu 2013; Kothari et al. 2009a; Li 2010a; Loughran and McDonald 2011; You and…”
Narrative Disclosure and Earnings Performance: Evidence from R&D Disclosures (2014, unknown): “author’s private conversations with competitive intelligence professionals suggest that 10-K filings are an important source of information for market participants (e.g., Previts et al. 1994; Rogers and Grant 1997; Leder 2003; Brown and Tucker 2010; Choudhary et al. 2011; Lehavy et al. 2011).”
Taxes and Financial Constraints: Evidence from Linguistic Cues (2015, unknown): “For example, studies have examined the disclosure tone in annual reports (Li (2008), Lehavy, Li, and Merkley (2011), Loughran and MacDonald (2011), Campbell et al. (2012), Bodnaruk et al.”
The benefits of specific risk-factor disclosures (2016, unknown): “As in Brown and Tucker (2011), we control for firm size, late filers, market reaction to the earnings announcement, and the number of data items in COMPUSTAT by adding Size, FileDate, |CAR-1,1|, and NumItems to the regression.”
Natural Language Processing in Accounting, Auditing and Finance: A Synthesis of the Literature with a Roadmap for Future Research (2016, methodology): “Brown and Tucker (2011), using TF-IDF term weighting, enhanced with a vector space model classifier, identified significant (p 0.10) price reactions to MD&A modifications.”
Textual Analysis and International Financial Reporting: Large Sample Evidence (2015, background): “For example, Brown and Tucker (2011) examine year-to-year changes”
Does Litigation Deter or Encourage Real Earnings Management? (2019, unknown): “We are grateful to Siew Hong Teoh for providing earnings press-release data and Khrystyna Bochkay for providing MD&A tone data.”
Analysis of year-over-year changes in Risk Factors Disclosure in 10-K filings (2018, background): “Their study shows that the modification score decreases as the length of the document increases over years, thus signaling the use of boilerplate information which simply adds to the length of the document without giving any significant information [4].”
The perceived credibility of forward-looking performance disclosures (2014, unknown): “These include Kothari et al. (2009), Feldman et al. (2010), Brown and Tucker (2011), Gruning (2011) and Davis and Tama-Sweet (2012).”
The Effects of Securities Class Action Litigation on Corporate Liquidity and Investment Policy (2015, unknown): “(2010)), MD&A disclosures(Brown and Tucker(2011)), audit fees(Seetharaman, Gul, and Lynn (2002)),and executive pay (Peng and Roell (2007)).”