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Contribution Details

Type Master's Thesis
Scope Discipline-based scholarship
Title Readability Measures in Annual Reports
Organization Unit
Authors
  • Linus Graf
Supervisors
  • Johanna Braun
  • Alexander Wagner
Language
  • English
Institution University of Zurich
Faculty Faculty of Business, Economics and Informatics
Number of Pages 77
Date 2019
Abstract Text This paper proposes a new measure of readability, the BOFIR score, which captures a wide range of textual attributes in disclosures. The measure is validated on a human-labeled dataset to gauge its performance. It vastly outperforms standard readability measures, indicating their misspecification in the context of business and finance reporting. The paper further shows the potential of the new readability measure and finds substantial differences in the reporting behavior of financial and non-financial firms.
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