Beyond the Numbers: Measuring the Information Content of Earnings Press Release Language


  • Accepted by Michael Welker. The authors would like to thank Franklin Williams, Mikhail Pevzner, Michelle Armesto, and Nam Tram for research assistance. We thank Mike Welker, three anonymous reviewers, Bob Bowen, Rich Frankel, Greg Hess, Ron King, Dawn Matsumoto, Bill Mayew, James Morley, Terry Shevlin, Shankar Venkataraman, Michael Williams and workshop participants at the University of Oregon, University of Utah, Washington University, the 2005 Washington University Accounting Research Conference, and the 2008 FEA Conference for helpful comments and suggestions.