Information Decay and Financial Disclosures
Year: 2014
Type: preprint
Abstract: Using data from the SEC’s EDGAR server log, we examine the consumption of financial information in filings from 2003 through 2012. We document how quickly download counts for EDGAR forms decay over the year following their initial filing. We find that different types of disclosures experience very different information flows as measured by download activity. After examining a variety of the most common forms, we focus on annual reports (10-K) and registration statements (S-1). The magnitude of the daily EDGAR requests for 10-Ks is relatively low and shows a surprisingly small difference between firms with and without publicly-traded equity.
Source: SSRN Electronic Journal
Authors: Tim Loughran, Bill McDonald
Institution: University of Notre Dame
Language: English
Topic: Financial Reporting and XBRL
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2118595849