Are longer annual reports less readable? Evidence from foreign firms listed on the United States Stock Exchanges

This study examines whether longer annual reports are less readable. Using the sample of 20-F forms published by foreign firms listed on United States Stock Exchanges, we find a significantly negative association between length and readability. result suggests that not The change in writing styles with shorter sentences, which is better complied regulations US Securities Exchange Commission (SEC) disclosure, considered main reason for but more readable reports. We also raise awareness when employing as proxy readability research complexity