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Unfavorable news are often delivered under the disguise of vagueness. Our theory-driven laboratory experiment investigates this strategic use of vagueness in voluntary disclosure and asks whether there is scope for policy to improve information transmission. We find that vagueness is profitably...
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Exploiting the 2009 amendments to Regulation S-K, we provide unique evidence on the first-time disclosure of the …
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investors' adversarial coordination and to the firm's agency, and remains optimal even if the firm can circumvent regulation and …
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The EU Taxonomy Regulation (TR), adopted in 2019, is a key milestone in defining legally sustainable activities. It …-neutral by 2050, and constitutes, along with the Sustainable Finance Disclosure Regulation (SFDR) and the Low Carbon Benchmarks … Regulation (LCBR), the regulatory ‘trilogy’ implementing the CMU Action Plan in relation to sustainable finance. It substantially …
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This paper assesses the information content of sanctions of listed companies pronounced by the French Financial Market Authority, through reactions from financial markets over the period 2004 to 2016. We answer whether, for a listed company, being named in a sanction report, as an offender, an...
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