informed. The same cannot be said about outside investors relying primarily on public disclosure. A descriptive analysis of the …

This paper examines how one firm’s commitment to provide more public disclosure affects other firms’ disclosure … practices in subsequent periods. I develop an investor demand-driven explanation for why and when firms adopt the disclosure … by which one firm’s greater disclosure creates demand pressure for the other firm to follow. Using market risk …

forecast errors. These findings suggest that the recent disclosure requirement mandated by the SEC was successful in generating … timely disclosure of bad news. However, I also find some evidence that firms with updates to their Risk Factors section have …

included in subtotal figures that appear in the summary accounts; disclosure refers to items that appear in words and amounts … disclosure reporting regime to terms and properties under a recognition regime. Under a fair value recognition regime, I find … absolute net income. In contrast, under a fair value disclosure regime, option compensation was not reduced. I also find that …

I examine the relation between a corporate commitment to increased disclosure and measures of liquidity, information … asymmetry, and cost of equity capital. Relative to prior research on voluntary disclosure, I use a composite, ex ante measure of … Regulation Fair Disclosure (Reg FD) I find that commitment to increased disclosure is negatively related to bid-ask spreads …