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Disclosure Processing Costs, Investors’ Information Choice, and Equity Market Outcomes : A Review
Blankespoor, Elizabeth - 2020
This paper reviews the literature examining how costs of monitoring for, acquiring, and analyzing firm disclosures – collectively, “disclosure processing costs” – affect investor information choices, trades, and market outcomes. The existence of disclosure processing costs means that...
Persistent link: https://www.econbiz.de/10012847855
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The Effects of Reporting Complexity on Small and Large Investor Trading
Miller, Brian P. - 2014
This study examines the effects of financial reporting complexity on investors' trading behavior. I find that more … disclosure, my investigation into the effects of reporting complexity on small and large investors should be of interest to … regulators concerned with reporting clarity and leveling the playing field across classes of investors …
Persistent link: https://www.econbiz.de/10013070774
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Disclosure of nonfinancial information in integrated reporting : the Brazilians professionals investors's perspective
Ribeiro, Cintia de Melo de Albuquerque; Cosenza, José Paulo - In: International journal of emerging markets 19 (2024) 6, pp. 1695-1717
Persistent link: https://www.econbiz.de/10014575585
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Corporate Environmental Information Disclosure and Investor Response : Empirical Evidence from China's Capital Market
Meng, Jia; Zhang, ZhongXiang - 2022
This paper aims at analyzing the impact of corporate environmental information disclosure from the perspective of investors. To that end, we have collected environmental information disclosure data of all Chinese listed companies from 2004 to 2020 and controlled the impacts of annual reports on...
Persistent link: https://www.econbiz.de/10013285887
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Corporate environmental information disclosure and investor response : empirical evidence from China's capital market
Meng, Jia; Zhang, ZhongXiang - 2022
This paper aims at analyzing the impact of corporate environmental information disclosure from the perspective of investors. To that end, we have collected environmental information disclosure data of all Chinese listed companies from 2004 to 2020 and controlled the impacts of annual reports on...
Persistent link: https://www.econbiz.de/10012814558
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Does Mandatory Short Selling Disclosure Lead to Investor Herding Behavior?
Heater, John C.; Liu, Ye; Tan, Qin; Zhang, Frank - 2022
Prior literature documents that short sale activity clusters around mandated short sale position disclosures. We investigate two competing hypotheses for this finding in the UK market: herding- versus information-based trading. First, using an entropy-balanced matched sample of stocks, we find...
Persistent link: https://www.econbiz.de/10013403398
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Negative Externalities of Financial Reporting Frequency : Peer Reporting Choice and the Loss of Investor Attention
De George, Emmanuel T. - 2019
This study examines whether one firm's choice of reporting frequency generates negative externalities for other firms … when their peers choose to adopt a higher reporting frequency …
Persistent link: https://www.econbiz.de/10012865048
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Do Corporate Disclosures Constrain Strategic Analyst Behavior?
Chang, Yen-Cheng - 2020
We show that U.S. analysts alter their behavior in response to a randomly assigned shock that exogenously varies the timeliness and cost of accessing companies' mandatory disclosures in the cross-section of investors: analysts reduce the number of stocks they cover, issue less optimistic and...
Persistent link: https://www.econbiz.de/10012836590
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Investor Reactions to Company Disclosure of High CEO Pay and High CEO-to-Employee Pay Ratio : An Experimental Investigation
Kelly, Khim - 2016
There is significant debate about the usefulness of disclosing the relative pay of the CEO and the median employee (hereafter, pay ratio), as required under the yet-to-be implemented Section 953(b) of the Dodd-Frank Act in the United States. Using an experiment, we find that disclosing...
Persistent link: https://www.econbiz.de/10013005908
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Behind Closed Doors : An Investigation of Investor Relations Officer Disclosures in Private Meetings with Investors
Asay, H. Scott; Clor-Proell, Shana; Durney, Michael T. - 2022
We examine how investor relations officers (IROs) approach disclosure decisions in private meetings with investors. In these settings, IROs face conflicting pressures to maintain a “level playing field” for all investors while also pleasing preferred investors. We experimentally test how...
Persistent link: https://www.econbiz.de/10014244877