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We study strategic disclosure timing by correlated firms in the presence of risk-averse investors. Firms delay disclosures in the hope that positively correlated firms will announce especially good news and lift their own price. Risk premia rise before disclosures, drop when disclosures occur,...
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receives legal protection, is associated with a reduction of family firms' research and development (R&D) investment. This … discourages their R&D investment. This finding deserves our attention because family firms account for a large share of the U ….S. economy and a reduction of their R&D investment can have long-term consequences. …
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. Therefore, in an inflationary period generous tax depreciation provisions do not promote private investment as designed, but …
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