Showing 1 - 10 of 373
Prior research finds conflicting results on the impact of uncertainty on voluntary firm disclosure. Our paper sheds light on this relationship by addressing endogeneity concerns. To this end, we use a novel instrumentation strategy that exploits firms’ differential exposure to aggregate...
Persistent link: https://www.econbiz.de/10014239434
This paper provides a new set of tests on the relationship between product market competition, information processing cost, and production of information by managers. The recent regulation regarding the mandatory adoption of XBRL (eXtensible Business Reporting Language) is a natural experiment...
Persistent link: https://www.econbiz.de/10012851407
Financial accounting affords considerable discretion to firms in aggregating internal information for external dissemination, yet little evidence exists about the consequences of such aggregation. We examine a central operational effect by studying whether withholding disaggregated cost...
Persistent link: https://www.econbiz.de/10012065292
This paper hypothesizes that if an earnings announcement fails to resolve uncertainty about the firm’s future outcomes, then management will take steps to further inform investors. The novelty of our approach consists of our empirical proxy for unresolved uncertainty, constructed using a...
Persistent link: https://www.econbiz.de/10013403353
We show that investors acquire more public information about firms to which they are more socially proximate. On average, a standard deviation increase in the Social Connectedness Index (Bailey et al., 2018) between a firm's headquarter county and a searcher county is associated with 30% more...
Persistent link: https://www.econbiz.de/10014527142
This study examines how firms' voluntary disclosure decisions are influenced by product market competition. Using separate measures to capture different dimensions of competition, I show that competition from potential entrants increases disclosure quantity while competition from existing rivals...
Persistent link: https://www.econbiz.de/10014191581
The relation between the motivation of voluntary disclosure and the characters of companies is important research topic in accounting research and strategy research. The paper investigates the samples from Chinese capital market during 2004-2006 and concludes some empirical results to verify and...
Persistent link: https://www.econbiz.de/10014047701
In listed companies, the Board of directors has ultimate responsibility for information disclosure. The conventional wisdom is that director independence is an essential factor in improving the quality of that disclosure. In a sense, this approach subordinates expertise to independence. We argue...
Persistent link: https://www.econbiz.de/10014198797
The present study analyzes the extent of voluntarily disclosed information about intangible resources, in the annual report of companies from Spain's capital market, as well as the possibility of there being a correlation between that disclosure and the effective profitability of the stock. In...
Persistent link: https://www.econbiz.de/10012997051
Contemporaneous evidence of corporate revenue and profit forecasting error is provided in a different institutional context, Australian sharemarket initial public offerings. This article extends the literature on company forecast risk by incorporating new proxies for forecasting error (float...
Persistent link: https://www.econbiz.de/10013004291