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Using the transition of US firms from annual reporting to semi-annual reporting and then to quarterly reporting over the period 1950-1970, we provide evidence on the effects of increased reporting frequency on firms' investment decisions. Estimates from difference-in-differences specifications...
Persistent link: https://www.econbiz.de/10012973096
Persistent link: https://www.econbiz.de/10011858932
Using hand-collected data on firms' interim reporting frequency from 1951 to 1973, we examine the impact of financial reporting frequency on information asymmetry and the cost of equity. Our results show that higher reporting frequency reduces information asymmetry and the cost of equity, and...
Persistent link: https://www.econbiz.de/10013092425
We provide evidence that increased reporting frequency enhances the extent to which stock prices guide managers' investment decisions. Using a generalized difference-in-differences research design, we find the sensitivity of investment to stock price increased for Mandatory Adopters following an...
Persistent link: https://www.econbiz.de/10012832370
We examine how the regulation of financial reporting frequency affects corporate innovation. We use a difference-in-differences approach based on a sample of treatment firms that experience a change in their reporting frequency and matched industry peers and control firms whose reporting...
Persistent link: https://www.econbiz.de/10012848405