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Is mandatory nonfinancial performance measurement beneficial?

Gallani, Susanna; Kajiwara, Takehisa; Krishnan, Ranjani - 2015

We examine the effect of mandated measurement and peer disclosure of new information on the persistence of performance improvements in a setting without performance incentives. Value of information (VOI) theory posits that information can improve the accuracy of posterior beliefs and thereby...

Persistent link: https://www.econbiz.de/10011536665

Myth : external financial reporting quality has a 1st order effect on firm value

Zimmerman, Jerold L. - 2012

I argue that external financial reporting quality has at best a 2nd order effect on firm value of U.S. publicly traded … companies and that attempts to improve a firm's external reporting quality has a 3rd order effect on these firms' value …. Recognizing that external financial reporting quality is at best a 2nd order effect on firm value imposes an important external …

Persistent link: https://www.econbiz.de/10010250808

Sustainability Disclosure Channels and Firm Risk : Evidence from Initiated and Continued Social Disclosure between SEC-Filings, Sustainability Reports, and Financial Reports

Hoepner, Andreas G. F.; Korca, Blerita; Schiemann, Frank - 2023

Firms can disclose social information via different channels such as SEC filings, stand-alone sustainability reports, or financial reports. Based on the notion that investors interpret such disclosures from a risk perspective, we analyse how disclosure via each of the three channels relates to...

Persistent link: https://www.econbiz.de/10014265238

Risk disclosure, liquidity, and investment efficiency

Smith, Kevin - 2019

This paper studies how public information regarding a firm's riskiness affects investors' incentives to acquire information about the firm and the firm's ability to learn decision-useful information from its price. I find that risk information complements investor learning by informing investors...

Persistent link: https://www.econbiz.de/10012065122

Aufnahme eines persönlich haftenden Gesellschafters bei einer GmbH & Co. KG zur Vermeidung der Offenlegung des Jahresabschlusses nach HGB

Kaya, Devrimi - 2010

The paper analyses a strategy for avoiding the disclosure of the financial statements of a limited partnership with a limited liability company as general partner (GmbH & Co. KG) according to German Commercial Code (HGB). It describes the formal process of the joining of a natural person as an...

Persistent link: https://www.econbiz.de/10003948503

Mandatory financial information disclosure and credit ratings

Vanhaverbeke, Steven; Balsmeier, Benjamin; Doherr, Thorsten - 2022

When firms are forced to publicly disclose financial information, credit rating agencies are supposed to improve their risk assessments. Theory predicts such an information quality effect but also an adverse reputational concerns effect because credit analysts may become increasingly concerned...

Persistent link: https://www.econbiz.de/10013411270

Estimation and empirical properties of a firm-year measure of accounting conservatism

Khan, Mozaffar; Watts, Ross L. - 2009 - Rev.

We estimate a firm-year measure of accounting conservatism, examine its empirical properties as a metric, and illustrate applications by testing new hypotheses that shed further light on the nature and effects of conservatism. The results are consistent with the measure, C_Score, capturing...

Persistent link: https://www.econbiz.de/10003948735

Does tax return disclosure affect information asymmetry among investors?

Wu, Yuchen - 2021 - This draft: September 2021

Tax return information is often complex and difficult to interpret. Whether its public availability benefits unsophisticated users remains an empirical question. This study examines whether public disclosure of tax return information affects information asymmetry among more- and less-...

Persistent link: https://www.econbiz.de/10012622845

Disclosure, competition, and learning from asset prices

Yang, Liyan - 2018

I study voluntary disclosure of oligopoly firms when they learn information from asset prices. By disclosing information, a firm incurs a cost of losing competitive advantage to its rivals but benefits from learning from a more informative asset market. Adding a financial market helps the...

Persistent link: https://www.econbiz.de/10011897851

Empirische Analyse des Offenlegungszeitpunkts von Jahresabschlüssen nach dem EHUG

Henselmann, Klaus; Kaya, Devrimi - 2008

The paper analyses the timing of disclosing financial statements for small and medium enterprises (SME) in Germany in 2007 and 2008. Comparisons of different regional areas and different company sizes are made and possible explanations for the results discussed. -- Rechnungslegungspolitik ;...

Persistent link: https://www.econbiz.de/10003803692

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