This paper studies the joint importance of dissemination and the structure of firms’ information networks in the pricing of value relevant financial information. I first document that disruptions to the dissemination of information on Twitter.com cause the market to react less to earnings news. Using ten staggered Twitter outages, which...
I investigate the spillover effects of disclosure requirements imposed by state governments on oil and gas companies operating in the state. Recently, several state governments have begun requiring companies to publicly disclose information about chemicals used in their fracking operations. The chemicals can result in land and water contamination, thereby...