Human capital represents one of the most important intangible assets for a firm. According to some recent estimates, nearly 84% of the
value of S&P500 companies is derived from a firm's human capital. Despite being a primary driver of firm value, disclosure requirements
on human capital have been practically non-existent until recently. On August 26, 2020, the Securities and Exchange Commission finalized
a new requirement to fill this gap. The new disclosure requirement mandates that beginning on November 8, 2020, firms provide a
description of their human capital resources if such resources are deemed material to the understanding of the company's business. The
objective of our study is to assess how informative the new human capital disclosures are and how this type of DEI information influences job seekers' job application decisions.