Research has shown that managers display self-serving behavior with regard to a variety of discretionary information production decisions. We test here whether such behavior is also manifest in discretionary information disclosure decisions. Our particular focus is on the common stock return...

This paper examines whether the intent-based fair value disclosures by security type under SFAS No. 115 explain the value of bank equity. Focusing on available-for-sale (AFS) and held-to-maturity (HTM) securities, we find both AFS and HTM value differences (fair less book values) explain the...