' boards, Ownership structure and audit quality) and financial communication transparency. For this purpose, a model is used … governance mechanisms are positively related to a higher transparency level noticeable in financial communication (voluntary … disclosure and quality information). In addition, empirical tests indicate that financial communication transparency is highly …

such communication is that it takes on one of two alternative forms when quality is exogenous: 1) disclosure of quality … a coin and that firms should be viewed as choosing which means of communication they will employ. Moreover, we show that … type, and the social efficiency of the channel of communication employed …

truthful communication can be promoted by the threat of ex-post disclosure, even in the absence of financial consequences. Our … doubles the incidence of truth-telling. Interestingly, the effect of ex-post disclosure on truthful communication is present …