Purpose – The purpose of this paper is to examine the effect on the cost of capital of increased disclosure that reduces information asymmetry among market participants. Design/methodology/approach – This study uses the decision to regularly hold open (closed) conference calls pre-Reg FD as...

Purpose – The purpose of this paper is to examine the effect on the cost of capital of increased disclosure that reduces information asymmetry among market participants. Design/methodology/approach – This study uses the decision to regularly hold open (closed) conference calls pre‐Reg FD...