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Disclosure deregulation of quarterly reporting
Behrmann, Vanessa; Hornuf, Lars; Zimmermann, Jochen - 2021 - This version: October 5, 2021
In this article, we investigate the deregulation efforts resulting from the 2015 transposition of the EU’s Transparency Directive into German law and analyze whether a reduction in the minimum content requirements for quarterly reporting increases information asymmetries and decreases firm...
Persistent link: https://www.econbiz.de/10012643524
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The effect of regulatory harmonization on cross-border labor migration : evidence from the accounting profession
Bloomfield, Matthew J.; Brüggemann, Ulf; Christensen, … - 2015
question, we analyze European Union (EU) initiatives that harmonized accounting and auditing standards. Regulatory … harmonization should reduce economic mobility barriers, essentially making it easier for accounting professionals to move across … countries. Our research design compares the cross-border migration of accounting professionals relative to tightly-matched other …
Persistent link: https://www.econbiz.de/10011405693
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Initial coin offerings, information disclosure, and fraud
Hornuf, Lars; Kück, Theresa; Schwienbacher, Armin - 2019 - This Version: November 19, 2019
We study the extent of fraud in initial coin offerings (ICOs), and whether information disclosure prior to the issuance predicts fraud. We document different types of fraud, and that fraudulent ICOs are on average much larger than the sample average. Issuers that disclose their code on GitHub...
Persistent link: https://www.econbiz.de/10012129781
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Communicating subjective evaluations
Lang, Matthias - 2014
Should principals explain and justify their evaluations? Suppose the principal's evaluation is private information, but she can provide justification by sending a costly cheap-talk message. If she does not provide justification, her message space is restricted, but the message is costless. I...
Persistent link: https://www.econbiz.de/10010361447
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Competition over cursed consumers
Ispano, Alessandro; Schwardmann, Peter - 2018
We model firms' quality disclosure and pricing in the presence of cursed consumers, who fail to be sufficiently skeptical about undisclosed quality. We show that neither competition nor the presence of sophisticated consumers necessarily protect cursed consumers from being exploited....
Persistent link: https://www.econbiz.de/10011847547
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Spin doctors : a model and an experimental investigation of vague disclosure
Deversi, Marvin; Ispano, Alessandro; Schwardmann, Peter - 2018
Unfavorable news are often delivered under the disguise of vagueness. But are people sufficiently naive to be fooled by such positive spin? We use a theoretical model and a laboratory experiment to study the strategic use of vagueness in a voluntary disclosure game. Consider a sender who aims at...
Persistent link: https://www.econbiz.de/10011903726
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Tax strategy disclosure : a greenwashing mandate?
Bilicka, Katarzyna A.; Casi-Eberhard, Elisa; Seregni, Carol - 2022 - This version: April 2022
Firms constantly face new and more stringent tax disclosure requirements and, increasingly, paying a fair share of tax is seen as part of corporate social responsibility. In this paper, we investigate whether mandating qualitative tax disclosure leads to intended outcomes, using, as an exogenous...
Persistent link: https://www.econbiz.de/10012508711
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Cybersecurity risk
Florackis, Chris; Louca, Christodoulos; Michaely, Roni; … - 2020
We develop a novel firm-level measure of cybersecurity risk using textual analysis of cybersecurity-risk disclosures in corporate filings. The measure successfully identifies firms extensively discussing cybersecurity risk in their 10-K, displays intuitive relations with quantitative measures of...
Persistent link: https://www.econbiz.de/10012387622
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A large-market rational expectations equilibrium model
Vives, Xavier - 2011
This paper presents a market with asymmetric information where a privately revealing equilibrium obtains in a competitive framework and where incentives to acquire information are preserved. The equilibrium is efficient, and the paradoxes associated with fully revealing rational expectations...
Persistent link: https://www.econbiz.de/10009130221
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Money is the root of asset bubbles
Awaya, Yu; Iwasaki, Kohei; Watanabe, Makoto - 2024
This paper examines how monetary expansion causes asset bubbles. When there is no monetary expansion, a bubbly asset is not created due to a hold-up problem. Monetary expansion increases buyers' money holdings, and then, dealers are willing to buy a worthless asset from sellers, in hopes of...
Persistent link: https://www.econbiz.de/10014467370