Textual Analysis of Risk Disclosures for the Cross-Section of Returns.

Two-page article summary plus a three-page critique of the Finance academic paper: Risk Factors That Matter – Textual Analysis of Risk Disclosures for the Cross-Section of Returns. The paper is attached. [Summary PART]: the main contribution/main theory/history or background [CRITIQUE PART]: Give some unique and special thinking about this paper. What’s maybe can improve? Any argument? You can comment on the approach/formula the author using the paper, or you can argue any concept/points of them. You also really welcome to relate other paper’s points (but same assets pricing filed under the finance).