Divulgation d'entreprise

The Invisible Balance Sheet

Can Intraday Financial Markets Detect Corporate Deterioration Before Accounting Disclosures?

Simon-Pierre Boucher · Cahiers de recherche UQO · novembre 2026 · v1.0

Do one-minute financial markets see a firm's forthcoming accounting deterioration before daily markets do? This paper builds a strictly point-in-time panel of 3,796 U.S. listed firms and 102,522 firm-quarters (2013–2026) from 6.7 billion raw one-minute bars and quarterly statements with filing and release dates, and…

Does the Language of Artificial Intelligence Move Markets? A Semantic Analysis of Russell 3000 SEC Filings and the Cross-Section of Stock Returns, 2010–2026

Manel Kammoun, Djerrycharli Tandjambianda et Simon-Pierre Boucher · Cahiers de recherche FIRC · octobre 2026 · v2.0

This paper measures artificial-intelligence (AI) engagement in the SEC filings of some 2,500 U.S. listed firms (the current S&P 500 constituents and the holdings of the iShares Russell 3000 ETF) by embedding every passage of their Form 10-K, 10-Q and 8-K filings of 2010–2026 with a sentence transformer and scoring it…

From Corporate Disclosures to a Russell 3000 Strategic Project Database: Identification, Measurement, Validation, and Research Applications

Manel Kammoun, Djerrycharli Tandjambianda et Simon-Pierre Boucher · Cahiers de recherche FIRC · octobre 2026 · v1.0

This paper documents the construction of SPID, a project-level research database that reconstructs the strategic initiatives disclosed by U.S.-listed companies in their SEC filings. Starting from an issuer universe that merges a current S&P 500 snapshot with the holdings of the iShares Russell 3000 ETF (2,564 distinct…