This study examines a specific source of lenders' ex ante information advantage, private information about borrowers' forthcoming patents. We examine this setting to provide evidence of the impact of such private information on borrowers' cost of debt. We find evidence consistent with lenders...

This study examines a specific source of borrowers' proprietary information and lenders' ex ante information advantage, i.e., private information about the borrowers' forthcoming patents. We examine this unique setting, where borrowers have credible information regarding a positive future event...

We examine the association between a firm’s cost of capital and its voluntary and mandatory disclosures. We include two types of mandatory disclosures: those that are a function of periodic reports that are realizations of ex-ante reporting systems and those that arise due to specific...