Understanding Corporate Sustainability Disclosures from the Securities Exchange Commission Filings

Computerized retrieval and classification: An application to reasons for late filings with the securities and exchange commission

This study explores a system to retrieve and classify the reasons for late mandatory SEC (Securities and Exchange Commission) filings. From the source documents, the system identifies the reasons for the late filing and classifies them into one or more of seven categories. The system can be used by potential investors who have to track a large number of filings concentrated within a day or two....

Report of the Securities and Exchange Commission on Questionable and Illegal Corporate Payments and Practices

EDGAR-Analyzer: automating the analysis of corporate data contained in the SEC's EDGAR database

Publicly owned companies, their officers and major investors are required to file regular disclosures with the Securities and Exchange Commission (SEC). To improve accessibility to these public documents, the SEC began developed the EDGAR (Electronic Data Gathering, Analysis and Retrieval) electronic disclosure system. This system provides ready, free access to all electronic filings made since...

Short sellers and corporate disclosures

We examine how short sellers affect corporate disclosures using a natural experiment. From May 2005 to July 2007, the SEC implemented a pilot program by randomly selecting one third of Russell 3000 stocks and removing the short sale price tests for these stocks (referred to as pilot firms), leading to lower short-selling constraint, without changing the requirement for other firms (referred to ...

Voluntary Disclosures and Corporate Control

We examine the valuation and capital allocation roles of voluntary disclosure when managers have private information regarding the firm’s investment opportunities, but an efficient market for corporate control influences their investment decisions. For managers with long-term stakes in the firm, the equilibrium disclosure region is two-tailed: only extreme good news and extreme bad news is disc...