This paper investigates the association between market liquidity and public announcements' disclosure quality on three emerging markets in the Baltics—the Tallinn, Riga, and Vilnius Stock Exchanges. The results show that disclosure quality, disclosure quantity, and above average...

Previous literature has been occupied with measuring disclosure quality in financial reports and no indication has been provided on how the quality of public announcements could be measured. The purpose of this paper is to introduce a methodological approach to its measurement and to illustrate...