Readability of 10‐K Reports and Stock Price Crash Risk

ABSTRACT This study shows that less readable 10‐K reports are associated with higher stock price crash risk. The results are consistent with the argument that managers can successfully hide adverse information by writing complex financial reports, which leads to stock price crashes when the hidden b...

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Bibliographic Details
Published inContemporary accounting research Vol. 36; no. 2; pp. 1184 - 1216
Main Authors Kim, Chansog (Francis), Wang, Ke, Zhang, Liandong
Format Journal Article
LanguageEnglish
Published Toronto Canadian Academic Accounting Association 01.06.2019
Subjects
Action
Earnings
Financial reporting
Form 10-K
Incentives
Litigation
Manipulation
News
Readability
Stock market crashes
Stock prices
Stocks
United States > US
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