Data visualization in 10-K filings

• 成果类型: Article
• 署名作者: Christensen, Theodore E.; Fronk, Karson E.; Lee, Joshua A.; Nelson, Karen K.
• 署名单位: University System of Georgia; University of Georgia; Texas Christian University; Brigham Young University
• 刊物名称: JOURNAL OF ACCOUNTING & ECONOMICS
• ISSN/ISSBN: 0165-4101
• DOI: 10.1016/j.jacceco.2023.101631
• 发表日期: 2024
• 关键词: graph literacy; earnings; INFORMATION; READABILITY

摘要

The Securities and Exchange Commission encourages the presentation of information or data in graphical form to improve users' ability to understand financial disclosures. We find a dramatic increase in the disclosure of both qualitative and quantitative infographics in 10-K filings over time and substantial cross-sectional variation in firms' choices regarding image types, data content, and the placement of infographics within 10-Ks. We provide evidence on factors associated with firms' use of infographics and explore the persistence with which they are disclosed over time. Finally, we investigate the relation between the use of infographics and uncertainty in capital markets. (c) 2023 Elsevier B.V. All rights reserved.