Discussion of "Annual report readability, current earnings, and earnings persistence''

被引:204
作者
Bloomfield, Robert [1 ]
机构
[1] Cornell Univ, Johnson Grad Sch Management, Ithaca, NY 14853 USA
关键词
market efficiency; lexical analysis; corporate disclosure; earnings persistence;
D O I
10.1016/j.jacceco.2008.04.002
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
Li [2008. Annual report readability, current earnings, and earnings persistence. Journal of Accounting and Economics, this issue, doi:10.1016/j.jacceco.2008.02.0031 finds that firms with losses, or with transient income, write annual reports with long sentences and big words. I begin by discussing some explanations for Li's primary results, using his more detailed results, along with the results of related papers, to assess the plausibility of those explanations. I then briefly discuss the 10-K's of a single company over the course of 3 years, to provide more detailed insight into what might drive the length and readability of annual reports. Finally, I present some possible directions for future research. (c) 2008 Published by Elsevier B.V.
引用
收藏
页码:248 / 252
页数:5
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