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We examine the effects of firms' life cycle stages on voluntary disclosure and the cost of equity capital and also the relationship between the interaction of life cycle stages and voluntary disclosures measures on the cost of equity capital. Our sample consists of non-financial Brazilian public...
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Research on the effects of voluntary disclosure quality on the cost of equity capital is often plagued by endogeneity concerns. I use a dynamic panel system GMM estimator to minimize these concerns by incorporating the dynamic nature of voluntary disclosure choices. The dynamic panel system GMM...
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