This paper analyzes the multinational enterprise’s decision to voluntarily disclose information regarding its investments, a choice we term investment transparency. When disclosing investment information, managers must weigh the costs and benefits of reducing asymmetries between the firm and...

Much of the rapid increases in the price of crude oil during two of the last three supply shocks has been attributed to increased private inventory demand stimulated by the expectation of speculative profits. Government intervention in any future disruption is likely to take the form of releases...