In this study, we examine whether CEOs' stock-based compensation has any relationship with the disclosure of highly proprietary information. While prior studies suggest that stock-based compensation provides managers with an incentive to enhance their voluntary disclosures in general, we argue...

This study examines the effect of regulatory approval on a firm’s voluntary product-level disclosures. We focus on the US biotechnology industry, a setting which allows direct observation of whether firms disclose more information as products proceed through well-defined—though successively...