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Capital Market Development and Confidence in Disclosure Quality

Friedman, Henry L. - 2019

Using a survey-based measure that directly captures beliefs about disclosure quality (SFARS) in a panel with over 1,000 country-year observations, this study examines macro-level capital market consequences of confidence in disclosure quality. Supporting construct validity, SFARS is associated...

Persistent link: https://www.econbiz.de/10012904365

The Relevance of the Fair Value Measurement Hierarchy : A Holistic Perspective

Filip, Andrei - 2020

This paper provides a non-traditional review of recent research on the fair value (FV) measurement hierarchy. We begin with a meta-analysis that synthesizes the studies on the value relevance of the FV hierarchy. Overall, we find that the value relevance is lower for level 3 than for levels 1...

Persistent link: https://www.econbiz.de/10012845927

Optimal vs satisfactory transparency : the impact of global macroeconomic fluctuations on corporate competitiveness

Oxelheim, Lars - 2018

firm does not equal satisfactory transparency for the outside shareholder.However, the implementation of IFRS/IAS 1 in the …

Persistent link: https://www.econbiz.de/10011952135

Banks' disclosure choices in the presence of adverse selection and runs

Corona, Carlos; Mahieux, Lucas - 2022

We present a theory of bank disclosure in which banks face both adverse selection and bank run risk. In our model … inefficient bank runs. We show that the level of disclosure chosen by banks and the associated probability of a run have parallel … behaviors as a function of bank profitability. Moreover, the optimal level of bank disclosure exhibits an inverse-U shape …

Persistent link: https://www.econbiz.de/10013300961

Enforcement of Optimal Disclosure Rules in the Presence of Moral Hazard

Versano, Tsahi - 2020

This paper analyzes the role of disclosure enforcement mechanisms (such as SEC enforcement teams and corporate governance systems) in directing the disclosure practices of managers when the information is used by shareholders to monitor the manager. The paper establishes a role for a disclosure...

Persistent link: https://www.econbiz.de/10012846123

Disclosure Processing Costs, Investors’ Information Choice, and Equity Market Outcomes : A Review

Blankespoor, Elizabeth - 2020

This paper reviews the literature examining how costs of monitoring for, acquiring, and analyzing firm disclosures – collectively, “disclosure processing costs” – affect investor information choices, trades, and market outcomes. The existence of disclosure processing costs means that...

Persistent link: https://www.econbiz.de/10012847855

Do Managers Convey Information via Voluntary Disclosure when GAAP Limits their Discretion?

Hribar, Paul - 2020

We examine whether managers convey more information via voluntary disclosure channels when standard-setters limit managers' discretion in GAAP. We estimate the extent to which standard setters limit managers' discretion by counting the number of times obligatory modal verbs are mentioned in the...

Persistent link: https://www.econbiz.de/10012850517

The Information Asymmetry Effects of Expanded Disclosures about Derivative and Hedging Activities

Steffen, Thomas D. - 2020

I study the information asymmetry effects of SFAS 161, which required changes to the content and format of derivative and hedging footnote disclosures. Using a difference-in-differences design, I investigate whether these mandatory disclosure changes affected bid-ask spreads. To capture the...

Persistent link: https://www.econbiz.de/10012855683

Effects of Compensation Contracts Disclosure on Executive Behavior

Oh, Joonghwa - 2020

This study investigates how the disclosure of management compensation contracts affects executive behavior by modeling a situation in which both the principal-agent relationship and market interactions are important. We find that making the disclosure of these contracts mandatory creates...

Persistent link: https://www.econbiz.de/10012837998

Compliance With Pension-Related Mandatory Disclosures and Debt Financing

Almaghrabi, Khadija - 2020

Using hand-collected data on the level of pension-related mandatory disclosures required by International Accounting Standard 19 Employee Benefits, we test whether compliance levels with these disclosures convey information that affects firms' access to the public instead of the private debt...

Persistent link: https://www.econbiz.de/10012829960

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