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Product Market Competition in Accounting, Finance, and Corporate Governance : A Review of the Literature
Babar, Md - 2020
empirical literature on the consequences of product market competition in the accounting, finance, and corporate governance …
Persistent link: https://www.econbiz.de/10012825553
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Disclosure to a Credulous Audience : The Role of Limited Attention
Hirshleifer, David A.; Lim, Sonya S.; Teoh, Siew Hong - 2002
We model limited attention as incomplete usage of publicly available information. Informed players decide whether or not to disclose to observers who sometimes neglect either disclosed signals or the implications of non-disclosure. In equilibrium observers are unrealistically optimistic,...
Persistent link: https://www.econbiz.de/10014120219
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On the Voluntary Disclosure of Redundant Information
Banerjee, Snehal; Breon-Drish, Bradyn M.; Kaniel, Ron; … - 2022
Why do firms engage in costly, voluntary disclosure of informationwhich is subsumed by a later announcement? We consider a model inwhich the firm's manager can choose to disclose short-term informationwhich becomes redundant later. When disclosure costs are sufficientlylow, the manager discloses...
Persistent link: https://www.econbiz.de/10013405002
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External Verifiability of Accounting Information and Intangible Asset Transactions
Kim-Gina, Jessica - 2018
Firms commonly use disaggregated accounting information to facilitate efficient contracting over intangible assets …. However, reliance on accounting measures creates information asymmetries and thus a role for contract audits. Using a hand … weaknesses in the licensee's accounting system and reporting flexibility affect the design of two key audit terms — (1) the scope …
Persistent link: https://www.econbiz.de/10012918020
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R&D investments and management guidance : Trading off information asymmetry and uncertainty in firm disclosure
Dube, Svenja - 2020
The immediate expensing of R&D expenditures conceals managers' knowledge about the R&D projects. I examine whether higher R&D-intensive firms voluntarily guide more to decrease this information asymmetry. R&D state tax credits serve as instrumental variable for R&D investments. While total...
Persistent link: https://www.econbiz.de/10012846967
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Trading disclosure requirements and market quality tradeoffs
Mele, Antonio; Sangiorgi, Francesco - 2020 - This version: July 13, 2020
We analyze the effects of trading disclosure requirements in markets with insider traders and professional investors. The insiders garble their trading throughout a mixed strategy. A number of differentially informed professional investors acquire information and contribute to increased mar- ket...
Persistent link: https://www.econbiz.de/10012421295
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When and how is voluntary disclosure quality reflected in equity prices?
Eugster, Florian; Wagner, Alexander F. - 2011
This paper investigates the extent to which voluntary disclosure quality (VDQ) of firms is reflected in equity prices. As a novel contribution, we explore the idea that the speed with which equity prices reflect any benefits or costs of VDQ varies across firms. We find that in environments where...
Persistent link: https://www.econbiz.de/10009295768
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Does Disclosure Improve Efficiency?
Han, Bing - 2014
This paper investigates the efficiency consequences of firm disclosure. Using accounting and financial data in the …
Persistent link: https://www.econbiz.de/10013066403
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Redact to Protect? Customers’ Incentive to Protect Information and Suppliers’ Disclosure Strategies
Chen, Gary - 2019
Protecting value-relevant information is becoming increasingly important and challenging as we move towards a knowledge-based economy and partners along the supply chain are more closely intertwined. We document three customer-supplier characteristics (i.e., customer R&D intensity, patent...
Persistent link: https://www.econbiz.de/10012899051
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Disclosure Frequency and Information Asymmetry
Van Buskirk, Andrew - 2011
The main purpose of this paper is to investigate whether more frequent disclosure by firms is associated with lower levels of information asymmetry among investors. Using a panel of 386 firms in the U.S. retail sector, I find that the practice of regularly providing monthly revenue disclosures...
Persistent link: https://www.econbiz.de/10013119575