We systematically examine which characteristics of a business opportunity - such as the likelihoods of potential gains and losses - affect managers' perception of risk and attractiveness. In an online experiment with a sample of 4,287 managers from smalland medium-sized enterprises in Denmark,...

This paper examines employee flows and the association with firm earnings and interest rates. We use administrative employer–employee matched panel data from Denmark spanning 17 years and hence exploit actual data on arriving (labor inflows) and departing (labor outflows) employees. Five...

Drawing upon information economics, this paper presents a relative assessment of twenty-four of the most common disclosure items in the management commentary and notes sections of the annual report. We design and conduct an internet survey using a large representative sample of users with an...