Zhao, Yijiang; Davis, Michael; Berry, Kevin T. - In: Review of Accounting and Finance 8 (2009) 3, pp. 253-278
Purpose – The purpose of this paper is to examine the effect on the cost of capital of increased disclosure that reduces information asymmetry among market participants. Design/methodology/approach – This study uses the decision to regularly hold open (closed) conference calls pre‐Reg FD...