arbiter
JournalsAccount

Human Capital Disclosure and Labor Market Outcomes: Evidence from Regulation S‐K

Jung Ho Choi et al.

Journal of Accounting Research2026https://doi.org/10.1111/1475-679x.70036article
FT50UTD24AJG 4*ABDC A*
Weight
0.50

Abstract

We examine the labor market consequences of the 2020 Regulation S‐K requiring human capital disclosure in 10K filings. Using large‐sample job‐level data and a Generative Large Language Model (GLLM), we observe that public firms subject to the regulation increase their disclosure of diversity, equity, and inclusion (DEI) information in job postings relative to a matched sample of large private firms. The increase in job‐posting disclosure is more pronounced among firms facing greater external pressure to increase their workforce diversity. These findings suggest a shift in demand for diverse candidates by public firms following the regulation. Yet, consistent with short‐term inelastic labor supply, this demand shift lengthens the recruitment period, with noticeable increases in workplace gender diversity emerging one year after the regulation, particularly among firms that demonstrate a credible commitment to DEI. Our study documents how securities regulations can impact labor market practices and underscores the challenges involved in shaping workforce diversity.

Open via your library →

Cite this paper

https://doi.org/https://doi.org/10.1111/1475-679x.70036

Or copy a formatted citation

@article{jung2026,
  title        = {{Human Capital Disclosure and Labor Market Outcomes: Evidence from Regulation S‐K}},
  author       = {Jung Ho Choi et al.},
  journal      = {Journal of Accounting Research},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1111/1475-679x.70036},
}

Paste directly into BibTeX, Zotero, or your reference manager.

Flag this paper

Human Capital Disclosure and Labor Market Outcomes: Evidence from Regulation S‐K

Flags are reviewed by the Arbiter methodology team within 5 business days.

Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.