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Data visualization in 10-K filings

Author

Listed:
  • Christensen, Theodore E.
  • Fronk, Karson E.
  • Lee, Joshua A.
  • Nelson, Karen K.

Abstract

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.

Suggested Citation

  • Christensen, Theodore E. & Fronk, Karson E. & Lee, Joshua A. & Nelson, Karen K., 2024. "Data visualization in 10-K filings," Journal of Accounting and Economics, Elsevier, vol. 77(2).
    • Handle: RePEc:eee:jaecon:v:77:y:2024:i:2:s0165410123000551
    DOI: 10.1016/j.jacceco.2023.101631
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    References listed on IDEAS

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    Cited by:

    1. Khemani, Purnima & Kumar, Dilip, 2025. "Do opposites attract? Understanding the influence of infographics and message credibility on investor perceptions and decision-making," Journal of Business Research, Elsevier, vol. 200(C).
    2. Gu, Ming & Hirshleifer, David & Teoh, Siew Hong & Wu, Shijia, 2025. "GIFfluence: A Visual Approach to Investor Sentiment and the Stock Market," MPRA Paper 127438, University Library of Munich, Germany.
    3. Ming Gu & David Hirshleifer & Siew Hong Teoh & Shijia Wu, 2025. "GIFfluence: A Visual Approach to Investor Sentiment and the Stock Market," Papers 2512.20027, arXiv.org.
    4. Hua Sun & Hongkang Xu, 2026. "Corporate social responsibility and data visualization in 10-K filings," Review of Quantitative Finance and Accounting, Springer, vol. 66(1), pages 201-233, January.
    5. Albrecht, Disen Huang & Anantharaman, Divya & Zhao, Keyi, 2025. "Is a picture worth a thousand words? Image usage in ESG reports," Accounting, Organizations and Society, Elsevier, vol. 115(C).

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    Keywords

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    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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