Calisthenics with Words: The Effect of Readability and Investor Sophistication on Investors’ Performance Judgment
Since the 1990s, the SEC has advocated for financial disclosures to be in “plain English” so that they would be more readable and informative. Past research has shown that high readability is related to more extreme investor judgments of firm performance. Processing fluency is the prevalent theory t...
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| Format: | Article |
| Language: | English |
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MDPI AG
2016-01-01
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| Series: | International Journal of Financial Studies |
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| Online Access: | http://www.mdpi.com/2227-7072/4/1/1 |