Accounting Classification Entropy (ACE) presented at Penn State

At an invited research colloquium hosted by the Smeal College of Business at the Pennsylvania State University on Tuesday, October 29, 2025, Prof. Nan Li presented a paper titled “Accounting Classification Entropy (ACE)”. The presentation introduced a new information-theoretic approach for measuring the information in financial statement classification structure. Nan Li also discussed with the faculty members at Penn State about how this approach can inform capital market participants, regulators, and researchers.