Linguistic Complexity in Firm Disclosures: Obfuscation or Information?
Brian J Bushee, Ian D Gow, Daniel J Taylor
Journal of Accounting Research | WILEY | Published : 2018
Accepted by Christian Leuz. We thank Lauren Cohen, Mirko Heinle, Feng Li, Tim Loughran, Rabih Moussawi, Luis Palacios, Eddie Riedl, Robert Verrecchia, Yuxing Yan, two anonymous reviewers, and seminar participants at Boston University, Cubist Systematic Strategies LLC, Florida International, George Washington, UC-Irvine, the University of Minnesota Empirical Accounting Conference, University of Toronto, and University of Zurich for useful discussions, comments, and programming advice. We gratefully acknowledge the financial support of the Harvard Business School and of the Wharton School. An online appendix to this paper can be downloaded at http://research.chicagobooth.edu/arc/journal/onlineappendices.aspx.