The purpose of this paper is to examine empirically the impact of intellectual capital disclosure (IC) on cost of … disclosure with its two components (human capital, structural) and the cost of equity. However, the negative impact of the … relational capital disclosure is not validated. The results in this paper are of considerable importance to both policy makers …

This dissertation investigates the relation between firm disclosure, analyst forecast bias, and the cost of equity … capital (COEC). Since analyst forecast bias is associated with both implied COEC estimates and disclosure, it is important to … control for or remove it from COEC estimates when estimating the relation between disclosure and ex ante expected returns. I …