Bill McDonald

University of Notre Dame - Mendoza College of Business - Department of Finance

P.O. Box 399

Notre Dame, IN 46556-0399

United States

SCHOLARLY PAPERS

23

DOWNLOADS
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Top 744

in Total Papers Downloads

41,779

SSRN CITATIONS
Rank 1,130

SSRN RANKINGS

Top 1,130

in Total Papers Citations

684

CROSSREF CITATIONS

380

Scholarly Papers (23)

1.

When is a Liability not a Liability? Textual Analysis, Dictionaries, and 10-Ks

Journal of Finance, Forthcoming
Number of pages: 46 Posted: 23 Jan 2009 Last Revised: 05 Mar 2010
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 9,836 (660)
Citation 232

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Textual analysis, Harvard Dictionary, negative word counts, term weighting

Textual Analysis in Accounting and Finance: A Survey

Number of pages: 56 Posted: 03 Oct 2014 Last Revised: 21 May 2016
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 8,360 (874)
Citation 147

Abstract:

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Textual analysis; sentiment analysis; bag-of-words; readability; word lists; Zipf’s law; cosine similarity; Naïve Bayes

Textual Analysis in Accounting and Finance: A Survey

Journal of Accounting Research, Vol. 54, No. 4, 2016
Posted: 27 Apr 2017
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance

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Textual analysis; sentiment analysis; bag-of-words; readability; word lists; Zipf’s law; cosine similarity; Naïve Bayes

3.

Measuring Readability in Financial Disclosures

Journal of Finance, Forthcoming
Number of pages: 44 Posted: 01 Sep 2011 Last Revised: 16 Jul 2013
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 3,563 (3,869)
Citation 91

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Readability, Fog Index, textual analysis

4.

Using 10-K Text to Gauge Financial Constraints

Forthcoming in the Journal of Financial and Quantitative Analysis
Number of pages: 43 Posted: 28 Sep 2013 Last Revised: 27 Aug 2015
Andriy Bodnaruk, Tim Loughran and Bill McDonald
University of Illinois at Chicago, University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 2,925 (5,423)
Citation 37

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Financial constraints; textual analysis; dividend omissions; equity recycling; underfunded pensions

5.
Downloads 2,102 ( 9,266)
Citation 9

Textual Analysis in Finance

Annual Review of Financial Economics, Vol. 12, pp. 357-375, 2020
Posted: 10 Dec 2020
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance

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Textual Analysis in Finance

Number of pages: 38 Posted: 24 Oct 2019 Last Revised: 18 Jun 2020
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 2,102 (9,086)
Citation 9

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Textual analysis; complexity; machine learning; readability; Fog Index; social media; lexicons

6.

IPO First-Day Returns, Offer Price Revisions, Volatility, and Form S-1 Language

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 57 Posted: 13 Aug 2012 Last Revised: 08 Feb 2013
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 2,019 (9,897)
Citation 41

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IPOs, first-day returns, bookbuilding, S-1 filings, textual analysis

7.

The Use of Word Lists in Textual Analysis

Forthcoming in the Journal of Behavioral Finance
Number of pages: 33 Posted: 17 Jul 2014 Last Revised: 02 Feb 2015
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 1,798 (11,932)
Citation 15

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Diction; word lists; sentiment analysis; Form 10-Ks; textual analysis

8.

The Use of EDGAR Filings by Investors

Journal of Behavioral Finance, Forthcoming
Number of pages: 47 Posted: 10 Sep 2014 Last Revised: 04 Dec 2016
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 1,780 (12,148)
Citation 26

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EDGAR; fundamental research; information decay; web traffic; Form 10-K

9.

Management Disclosure of Risk Factors and COVID-19

Number of pages: 4 Posted: 14 Apr 2020
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 1,599 (14,371)
Citation 5

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pandemic, epidemic, coronavirus, annual reports, risk factors

10.

Measuring Firm Complexity

Number of pages: 43 Posted: 15 Jul 2020 Last Revised: 20 Jul 2020
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 1,215 (21,820)
Citation 11

Abstract:

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firm complexity, audit fees, textual analysis, Form 10-K, unexpected earnings, IPO returns, COVID-19

11.

Regulation and Financial Disclosure: The Impact of Plain English

Forthcoming, Journal of Regulatory Economics
Number of pages: 34 Posted: 13 May 2008 Last Revised: 15 Oct 2013
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 1,189 (22,545)
Citation 5

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Plain English, market regulation, disclosure, textual analysis

12.

Using Annual Report Sentiment as a Proxy for Financial Distress in U.S. Banks

Number of pages: 35 Posted: 25 Jan 2017 Last Revised: 20 May 2020
Priyank Gandhi, Tim Loughran and Bill McDonald
Rutgers Business School, Newark and New Brunswick, University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 963 (30,595)
Citation 5

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Financial distress; textual analysis; negative sentiment; distressed delisting; financial institutions.

13.

Barron’s Red Flags: Do They Actually Work?

Journal of Behavioral Finance, Forthcoming
Number of pages: 22 Posted: 21 Nov 2009 Last Revised: 12 May 2011
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 942 (31,523)
Citation 8

Abstract:

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textual analysis, fraud, red flag phrases, Madoff

14.

Implementing the Earnings Surprise Strategy

Number of pages: 16 Posted: 22 Apr 2009
Bill McDonald and Richard R. Mendenhall
University of Notre Dame - Mendoza College of Business - Department of Finance and University of Notre Dame - Department of Finance
Downloads 699 (47,440)

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Market efficiency, Anomalies, Earnings, SUE, PEAD, Post-earnings announcement drift

15.

Designing a Global Digital Currency

Number of pages: 42 Posted: 09 Oct 2017 Last Revised: 19 Oct 2017
Ronald J. Balvers and Bill McDonald
McMaster University - Michael G. DeGroote School of Business and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 599 (57,956)
Citation 6

Abstract:

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Global currencies; digital currencies; cryptocurrencies; currency design; Bitcoin, Ethereum

16.

Trust, But Verify: MD&A Language and the Role of Trust in Corporate Culture

Forthcoming in the Journal of Business Ethics
Number of pages: 32 Posted: 16 Aug 2014 Last Revised: 17 Apr 2015
Robert Audi, Tim Loughran and Bill McDonald
University of Notre Dame - Mendoza College of Business, University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 441 (84,575)
Citation 6

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Trust; ethics; corporate culture; corporate governance; audit; disclosures; textual analysis; monitoring

17.

A Wolf in Sheep's Clothing: The Use of Ethics-Related Terms in 10-K Reports

Number of pages: 26 Posted: 21 Aug 2007
Tim Loughran, Bill McDonald and Hayong Yun
University of Notre Dame, University of Notre Dame - Mendoza College of Business - Department of Finance and Michigan State University - Department of Finance
Downloads 419 (89,729)
Citation 11

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ethics, 10-K filings

18.

Deviations from Time Priority on the NYSE

Number of pages: 43 Posted: 03 Jan 2019
University of Notre Dame - Department of Finance, Indiana University - Kelley School of Business - Department of Finance and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 389 (97,743)

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DMM, Floor Broker, Parity

19.

Commonality in Codes of Ethics

Number of pages: 27 Posted: 27 Aug 2008 Last Revised: 14 May 2014
Margaret Forster, Tim Loughran and Bill McDonald
University of Notre Dame, University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 290 (134,987)
Citation 7

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Code of Ethics, Textual Analysis, Plagiarism, Regulation

20.

Assimilation of Oil News Into Prices

Number of pages: 42 Posted: 27 Nov 2017 Last Revised: 01 Apr 2019
Tim Loughran, Bill McDonald and Ioannis Pragidis
University of Notre Dame, University of Notre Dame - Mendoza College of Business - Department of Finance and Democritus University of Thrace
Downloads 247 (158,858)
Citation 3

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Textual analysis; news stories; oil prices; overreaction; tone

21.

Financial Disclosure and Customer Satisfaction: Do Companies Talking the Talk Actually Walk the Walk?

Journal of Business Ethics, Forthcoming
Number of pages: 50 Posted: 14 Mar 2015 Last Revised: 15 Mar 2015
Ronald J. Balvers, John F. Gaski and Bill McDonald
McMaster University - Michael G. DeGroote School of Business, University of Notre Dame - Mendoza College of Business and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 172 (221,520)
Citation 2

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American Customer Satisfaction Index; business ethics; customer satisfaction; financial disclosure; signaling; 10-K; textual analysis

22.

Old Glass Ceilings are Hard to Break: Gender Usage Trends in Annual Reports

Number of pages: 25 Posted: 23 Nov 2014 Last Revised: 11 Mar 2015
Tim Loughran and Bill McDonald
University of Notre Dame and University of Notre Dame - Mendoza College of Business - Department of Finance
Downloads 160 (235,492)
Citation 2

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EDGAR; gender; firm age; annual reports; textual analysis.

23.

How Have Corporate Codes of Ethics Responded to an Era of Increased Scrutiny?

Number of pages: 42 Posted: 19 Jul 2021 Last Revised: 28 Oct 2021
Tim Loughran, Bill McDonald and James Otteson
University of Notre Dame, University of Notre Dame - Mendoza College of Business - Department of Finance and University of Notre Dame
Downloads 72 (407,228)

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Code of Ethics; Textual Analysis; Corporate Scandals; ESG Rating; Sustainability.