such communication is that it takes on one of two alternative forms when quality is exogenous: 1) disclosure of quality … a coin and that firms should be viewed as choosing which means of communication they will employ. Moreover, we show that … type, and the social efficiency of the channel of communication employed …

This study examines how private communication among competitors shapes their public disclosures. Theories at the … predict a substitutive relation between private communication and public disclosure: private communication reduces the need to … coordinate via public disclosure. Using data on the extent of private communication among competing firms in strategic alliances …

This study examines the challenge of implicit communication -- qualitative statements, tone, and non-verbal cues -- to … through explicit quantitative disclosures but also through implicit communication. In a high-profile enforcement action … support the proposition that this increase in disclosure is more likely due to an increase in implicit communication than in …