Research on disclosure and capital markets focuses primarily on the amount of information provided but pays little attention to the presentation format of this information. This paper examines the impact of graph utilization and graph quality (distortion) on the cost of equity capital,...

The purpose of this paper is to test empirically the relationship between two important concepts: disclosure and liquidity. Using a sample of Spanish quoted firms between 1994 and 2000 we show that the estimation of the relationship between disclosure and liquidity depends crucially on two...

La necesidad de financiarse en unos mercados de capitales cada vez más sofisticados y complejos obliga las empresas a facilitar una cantidad de información superior a la que implica el mero cumplimiento de las obligaciones legales en materia de información contable. En este trabajo, en primer...