This study examines firms' strategic management disclosure policy before debt offerings. We extend prior studies by performing multiple regression analyses for both the level of and the change in management disclosure prior to debt offerings using a much more comprehensive set of sample firms....

This study examines management disclosure behavior around debt offerings and its effect on the cost of debt offered. For the equity market, studies show that management disclosure of good news decreases the cost of equity. Studies also show that debt holders are more concerned with negative...