This paper deals with the impact of voluntary strategy disclosure in management reports on the cost of equity capital. Such an impact is not obvious, as investors might consider strategy information as “cheap talk” and therefore ignore it. We analyze a sample of 100 German listed firms from...

The purpose of this paper is to examine determinants of financial information disclosure by Tunisian companies. The methodology is based on qualitative approach, using the cognitive mapping technique. To take into account the specificities of the Tunisian economic, we felt that it is essential...

We find that bidders are more likely to hold conference calls at merger announcements when the mergers are financed with stock and when the transactions are large. After controlling for endogeneity, we also find that conference calls are associated with more favorable market reactions to merger...

We find that bidders are more likely to hold conference calls at merger announcements when the mergers are financed with stock and when the transactions are large. After controlling for endogeneity, we also find that conference calls are associated with more favorable market reactions to merger...

The SEC's emphasis on the use of plain English is designed to make disclosures more readable and more informative. Using an experiment, I find that more readable disclosures lead to stronger reactions from small investors, so that changes in valuation judgments are more positive when news is...

We investigate the content, timing and relevance of firms' narrative disclosure about effects of IFRS adoption in annual statutory financial statements and firm announcements to the stock exchange for 150 large listed Australian firms in the three year period surrounding adoption (which occurred...

Encouraging organizations to be more open has been a key issue in contemporary debates over nonprofit accountability. However, our understanding of what motivates organizations to the disclosure decision is weak. We aim to enhance our understanding of this critical issue by developing and...

'Prominence' plays an important role in financial reporting – an entity might assign an item to the footnotes, report it below the line, or comment on it in a press release versus the MD&A. We propose a model where quantitative disclosures are classified as more or less prominent, based on...

This paper examined the effects of stakeholders on firms' CSR information disclosures. In Japan, many firms voluntarily disclose CSR information, with disclosure practices varying across firms. This paper quantified the CSR information released by 236 Japanese listed firms and examined the...

Introduction of the IAS/IFRS entails important changes for European companies, characterised by different accounting systems, including assessment and accounting of the impairment test which is one of the most fundamental issues. Our attention focuses on companies listed in the main European...