This paper examines the effect of family ownership on firm voluntary disclosure and the associated capital market consequences. I use a randomly assigned family trait, the gender of the firstborn child of the firm's family owner, as an instrumental variable and find that family ownership of a...

We investigate the relation between investor horizon and disclosure policy. We develop and analyze a rational expectations model where the original investors commit to a disclosure policy. Counter to casual intuition, short-horizon investors prefer more disclosure and are willing to bear costs...

Using an international sample of 2,113 initial coin offerings (ICOs), we explore the role of disclosure and information intermediaries in the unregulated crypto-tokens market. First, we document substantial cross-sectional variation in the voluntary disclosure practices of ventures seeking to...