IDEAS home Printed from https://ideas.repec.org/a/pal/ijodag/v17y2020i2d10.1057_s41310-020-00087-w.html
   My bibliography  Save this article

Exploring the U.S. Securities and Exchange Commission’s Edgar database by sampling joint venture contracts

Author

Listed:
  • Andres Velez-Calle

    (Universidad EAFIT)

  • Cristina Robledo-Ardila

    (Universidad EAFIT)

Abstract

Through its electronic filing system EDGAR, the U.S. Securities and Exchange Commission (SEC) provides information that listed companies are required to report. However, while the information is thus made public, it is not readily available. This article explains the purpose of the SEC and its EDGAR filing system, how it works and how anyone can access this information. It further explains how companies file their material contracts as attachments to their filings and how to find them. The paper also explains the development of a program for mining EDGAR, resulting in the extraction of over six hundred JV contracts. Finally, the paper explores basic text mining techniques to dissect the contracts and point out the most widely used clauses, such as joint venture type and scope, the laws governing the contract and the description and responsibilities of the parties and opens a broad research agenda.

Suggested Citation

  • Andres Velez-Calle & Cristina Robledo-Ardila, 2020. "Exploring the U.S. Securities and Exchange Commission’s Edgar database by sampling joint venture contracts," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 17(2), pages 73-85, September.
    • Handle: RePEc:pal:ijodag:v:17:y:2020:i:2:d:10.1057_s41310-020-00087-w
    DOI: 10.1057/s41310-020-00087-w
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41310-020-00087-w
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1057/s41310-020-00087-w?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Oliver Hart & John Moore, 2007. "Incomplete Contracts and Ownership: Some New thoughts," American Economic Review, American Economic Association, vol. 97(2), pages 182-186, May.
    2. Yadong Luo, 2005. "Transactional characteristics, institutional environment and joint venture contracts," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 36(2), pages 209-230, March.
    3. Yaping Gong & Oded Shenkar & Yadong Luo & Mee‐Kau Nyaw, 2007. "Do multiple parents help or hinder international joint venture performance? The mediating roles of contract completeness and partner cooperation," Strategic Management Journal, Wiley Blackwell, vol. 28(10), pages 1021-1034, October.
    4. Sarath Sanga, 2014. "Choice of Law: An Empirical Analysis," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 11(4), pages 894-928, December.
    5. Seok-Woo Kwon & Jerayr Haleblian & John Hagedoorn, 2016. "In country we trust? National trust and the governance of international R&D alliances," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 47(7), pages 807-829, September.
    6. Nicholas S. Argyres & Janet Bercovitz & Kyle J. Mayer, 2007. "Complementarity and Evolution of Contractual Provisions: An Empirical Study of IT Services Contracts," Organization Science, INFORMS, vol. 18(1), pages 3-19, February.
    7. Bushee, Brian J. & Leuz, Christian, 2005. "Economic consequences of SEC disclosure regulation: evidence from the OTC bulletin board," Journal of Accounting and Economics, Elsevier, vol. 39(2), pages 233-264, June.
    8. Rachelle C. Sampson, 2004. "The Cost of Misaligned Governance in R&D Alliances," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 20(2), pages 484-526, October.
    9. Easton, Pd & Zmijewski, Me, 1993. "Sec Form 10k/10q Reports And Annual-Reports To Shareholders - Reporting Lags And Squared Market Model Prediction Errors," Journal of Accounting Research, Wiley Blackwell, vol. 31(1), pages 113-129.
    10. Tim Loughran & Bill McDonald, 2017. "The Use of EDGAR Filings by Investors," Journal of Behavioral Finance, Taylor & Francis Journals, vol. 18(2), pages 231-248, April.
    11. Jonathan L. Rogers & Douglas J. Skinner & Sarah L. C. Zechman, 2017. "Run EDGAR Run: SEC Dissemination in a High‐Frequency World," Journal of Accounting Research, Wiley Blackwell, vol. 55(2), pages 459-505, May.
    12. Dalton, Derek & Buchheit, Steve & Oler, Derek & Zhou, Ming, 2013. "Enforcement mechanisms for SEC reporting deadlines," Research in Accounting Regulation, Elsevier, vol. 25(2), pages 185-195.
    13. Jeongho Choi & Farok J Contractor, 2016. "Choosing an appropriate alliance governance mode: The role of institutional, cultural and geographical distance in international research & development (R&D) collaborations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 47(2), pages 210-232, February.
    14. Melissa A. Schilling, 2009. "Understanding the alliance data," Strategic Management Journal, Wiley Blackwell, vol. 30(3), pages 233-260, March.
    15. Tim Loughran & Bill Mcdonald, 2016. "Textual Analysis in Accounting and Finance: A Survey," Journal of Accounting Research, Wiley Blackwell, vol. 54(4), pages 1187-1230, September.
    16. Contractor, Farok J. & Ra, Wonchan, 2000. "Negotiating alliance contracts: Strategy and behavioral effects of alternative compensation arrangements," International Business Review, Elsevier, vol. 9(3), pages 271-299, June.
    17. García, Diego & Norli, Øyvind, 2012. "Geographic dispersion and stock returns," Journal of Financial Economics, Elsevier, vol. 106(3), pages 547-565.
    18. Deepak Hegde, 2014. "Tacit Knowledge and the Structure of License Contracts: Evidence from the Biomedical Industry," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 23(3), pages 568-600, September.
    19. Tim Loughran & Bill Mcdonald, 2011. "When Is a Liability Not a Liability? Textual Analysis, Dictionaries, and 10‐Ks," Journal of Finance, American Finance Association, vol. 66(1), pages 35-65, February.
    20. Yuanyuan Chen & Anandhi Bharadwaj, 2009. "An Empirical Analysis of Contract Structures in IT Outsourcing," Information Systems Research, INFORMS, vol. 20(4), pages 484-506, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Michael Nippa & Jeffrey J Reuer, 2019. "On the future of international joint venture research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(4), pages 555-597, June.
    2. Stienstra, Miranda, 2020. "The determinants and performance implications of alliance partner acquisition," Other publications TiSEM 7fdee0c2-d4d2-4f5b-95e3-2, Tilburg University, School of Economics and Management.
    3. Pastwa, Anna M. & Shrestha, Prabal & Thewissen, James & Torsin, Wouter, 2021. "Unpacking the black box of ICO white papers: a topic modeling approach," LIDAM Discussion Papers LFIN 2021018, Université catholique de Louvain, Louvain Finance (LFIN).
    4. Zhi Cao & Yuan Li & Jayanth Jayaram & Yi Liu & Fabrice Lumineau, 2018. "A meta-analysis of the exchange hazards–interfirm governance relationship: An informal institutions perspective," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(3), pages 303-323, April.
    5. Lauren Cohen & Christopher Malloy & Quoc Nguyen, 2018. "Lazy Prices," NBER Working Papers 25084, National Bureau of Economic Research, Inc.
    6. Kristian D. Allee & Matthew D. Deangelis & James R. Moon, 2018. "Disclosure “Scriptability”," Journal of Accounting Research, Wiley Blackwell, vol. 56(2), pages 363-430, May.
    7. Umar, Tarik, 2022. "Complexity aversion when SeekingAlpha," Journal of Accounting and Economics, Elsevier, vol. 73(2).
    8. Dyer, Travis A., 2021. "The demand for public information by local and nonlocal investors: Evidence from investor-level data," Journal of Accounting and Economics, Elsevier, vol. 72(1).
    9. James P. Ryans, 2021. "Textual classification of SEC comment letters," Review of Accounting Studies, Springer, vol. 26(1), pages 37-80, March.
    10. García, Diego & Hu, Xiaowen & Rohrer, Maximilian, 2023. "The colour of finance words," Journal of Financial Economics, Elsevier, vol. 147(3), pages 525-549.
    11. Blankespoor, Elizabeth & deHaan, Ed & Marinovic, Iván, 2020. "Disclosure processing costs, investors’ information choice, and equity market outcomes: A review," Journal of Accounting and Economics, Elsevier, vol. 70(2).
    12. Reuer, Jeffrey & Devarakonda, S.V., 2015. "Mechanisms of hybrid governance : Administrative committees in non-equity alliances," Other publications TiSEM 063d9ccc-59c8-4e76-a77d-8, Tilburg University, School of Economics and Management.
    13. Christian Leuz & Peter D. Wysocki, 2016. "The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research," Journal of Accounting Research, Wiley Blackwell, vol. 54(2), pages 525-622, May.
    14. Thewissen, James & Shrestha, Prabal & Torsin, Wouter & Pastwa, Anna M., 2022. "Unpacking the black box of ICO white papers: A topic modeling approach," Journal of Corporate Finance, Elsevier, vol. 75(C).
    15. Dan Li & Lorraine Eden & Michael A. Hitt & R. Duane Ireland & Robert P. Garrett, 2012. "Governance in Multilateral R&D Alliances," Organization Science, INFORMS, vol. 23(4), pages 1191-1210, August.
    16. Lauren Cohen & Christopher Malloy & Quoc Nguyen, 2020. "Lazy Prices," Journal of Finance, American Finance Association, vol. 75(3), pages 1371-1415, June.
    17. Pao, Huei-Wen & Wu, Hsueh-Liang & Lee, Cheng-Yu, 2020. "Project interface choice and knowledge creation: Evidence of international science cooperation in Taiwan," Technovation, Elsevier, vol. 89(C).
    18. Jiao Ji & Oleksandr Talavera & Shuxing Yin, 2018. "The Hidden Information Content: Evidence from the Tone of Independent Director Reports," Working Papers 2018-28, Swansea University, School of Management.
    19. Rolf Uwe Fülbier & Thorsten Sellhorn, 2023. "Understanding and improving the language of business: How accounting and corporate reporting research can better serve business and society," Journal of Business Economics, Springer, vol. 93(6), pages 1089-1124, August.
    20. Kladakis, George & Chen, Lei & Bellos, Sotirios K., 2023. "Ethical bank disclosures and liquidity creation," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 84(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:ijodag:v:17:y:2020:i:2:d:10.1057_s41310-020-00087-w. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.