Does Readability of Financial Disclosures Affect the Bond Market?
http://clsbluesky.law.columbia.edu/2016/12/06/does-readability-of-financial-disclosures-affect-the-bond-market/ [clsbluesky.law.columbia.edu]
2016-12-06 20:28
Writing better SEC disclosures for fun and profit.
we find that if a company improved its readability from the 75th to 50th percentile in our sample, then it would save approximately $440,000 annually in interest for a bond with a face value of $430 million