This study examines the impact of voluntary disclosure on the cost of capital and information asymmetry, and thereby on firm value in a comprehensively recursive model. We argue that there is unidirectional dependency among the information asymmetry, cost of capital, and such firm value, hence,...

Does the introduction of corporate transparency and disclosure rules in emerging economies affect compliance, and therefore earnings quality and firm performance? We explore these questions for an important emerging economy, Russia, using a natural experiment, the 2002 introduction of Russian...