We examine the impact of the U.K. Bribery Act 2010 on the implied cost of equity. We find a significant reduction in the cost of equity amongst U.K. firms with high bribery exposure. We further show that the Bribery Act improves internal control system and increases stock liquidity of firms with...

Integrated Reporting (IR) has recently emerged as an accounting innovation which combines financial and non-financial/sustainability information relevant to corporate value creation into a single report. While prior research on IR examined the supply side (i.e. motivation for and content) of IR,...