We examine the voluntary disclosure practices of family firms. Family firms have longer investment horizons, lower agency conflicts between owners and managers but higher agency conflicts between controlling and non-controlling shareholders, and greater concerns about firm reputation. We...

Prior research suggests that firms in bilateral relationships have incentives to use accounting information to enhance stakeholders' assessment of the firms' reputation for fulfilling implicit claims. Using a database of firms' major customers, we provide evidence that principal customers...

We investigate whether supplier investment decisions are associated with their major customer’s strategic disclosure tone. Customers are incentivized to strategically manipulate disclosure tone to attract more stakeholder investment, including that of suppliers. However, compared to other...

Academic literature and the business press have placed increased attention on the corporate disclosure of non-financial information. This study uses a survey of 750 retail investors to examine perceptions about indicators of economic performance; corporate governance policies and performance; and...

The growth in demand for corporate social responsibility (CSR) information raises the question of how various CSR disclosure items are used by investors, an important stakeholder group driven by instrumental, moral, and relational motives. Prior research examines the instrumental motive to...