The benefits of specific risk-factor disclosures

• المؤلفون الرئيسيون: HOPE, Ole-Kristian, HU, Danqi, Hai LU
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2016
• الموضوعات: Risk-factor disclosure; Specificity; Market reactions; Trading volume; Analyst risk assessments; Scenario analysis; Accounting; Corporate Finance
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soa_research/1621; https://ink.library.smu.edu.sg/context/soa_research/article/2648/viewcontent/BenefitsSpecificRisk_FactorDisclosures_2016.pdf

Practitioners have long criticized risk-factor disclosures in the 10-K as generic and boilerplate. In response, regulators emphasize the importance of being specific. By using a computing algorithm, this paper establishes a new measure (Specificity) to quantify the level of specificity of firms’ qua...