Firm transparency and idiosyncratic risk

Hui-Cheng Yu, Mao-Feng Kao, Yi-Chang Chen, Bor-Yuan Tsai

This study focuses on whether information transparency can reduce a firm’s idiosyncratic risk. We measure information transparency from an annual report on the public transparency of Chinese companies. Using a simultaneous equations approach, we find that idiosyncratic risk is reduced when a firm discloses more financial and non-financial information. Our results highlight the importance of information transfer in an emerging economy.

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Year of publication:	September 2017
Authors:	Yu, Hui-Cheng ; Kao, Mao-Feng ; Chen, Yi-Chang ; Tsai, Bor-Yuan
Published in:	Economics and Business Letters : EBL. - Oviedo : Univ., ISSN 2254-4380, ZDB-ID 2708683-5. - Vol. 6.2017, 3, p. 81-87
Subject:	information transparency \| idiosyncratic risk \| simultaneous equations \| emerging economy \| Risiko \| Risk \| Unternehmen \| Enterprise \| Mehrgleichungsmodell \| Multiple equation model \| Transparenz \| Transparency

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Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Other identifiers:	10.17811/ebl.6.3.2017.%25p [DOI] hdl:11159/1440 [Handle]
Classification:	G14 - Information and Market Efficiency; Event Studies ; G18 - Government Policy and Regulation ; O10 - Economic Development. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011764907