As a direct response to the recent trend in corporate expatriations, politicians have questioned the patriotism of firms that reorganize outside the U.S. and introduced numerous legislative proposals designed to prevent corporate expatriations. The implicit assumption made in proposing this...

This study examines the impact of voluntary disclosure on the cost of capital and information asymmetry, and thereby on firm value in a comprehensively recursive model. We argue that there is unidirectional dependency among the information asymmetry, cost of capital, and such firm value, hence,...