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Disclosure and the Cost of Capital : A Survey of the Theoretical Literature
Bertomeu, Jeremy - 2016
This article offers a survey of theoretical research on disclosure and the cost of capital. We summarize the current state of the literature and discuss the channels through which information affects the cost of capital. After giving an overview of asset pricing theory, we examine the rationale...
Persistent link: https://www.econbiz.de/10013005886
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The Benefits of Specific Risk-Factor Disclosures
Hope, Ole-Kristian - 2016
Practitioners have long criticized risk-factor disclosures in the 10-K as generic and boilerplate. In response, regulators emphasize the importance of being specific. By using a computing algorithm, this paper establishes a new measure (Specificity) to quantify the level of specificity of firms'...
Persistent link: https://www.econbiz.de/10013006284
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Free Cash Flow Disclosure in Earnings Announcements
Adame, Katharine - 2020
More companies are disclosing free cash flow in their earnings announcements. Companies choose a range of definitions for disclosed free cash flow, none of which correspond to the theoretical definition. The most common definition (in 38% of free cash flow disclosures) is operating cash flow...
Persistent link: https://www.econbiz.de/10012852738
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Does SEC FRR No. 48 Disclosure Communicate Risk Management Effectiveness?
Lobo, Gerald J. - 2020
investment, our results highlight the importance of market risk disclosures and should be of interest to investors and analysts …
Persistent link: https://www.econbiz.de/10012852928
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Segment Disclosure Transparency and Internal Capital Market Efficiency : Evidence from SFAS No. 131
Cho, Young Jun - 2015
improving investment efficiency …
Persistent link: https://www.econbiz.de/10013033778
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Disclosure, Business Change and Earnings Quality
Ball, Christopher - 2015
form of specific topics that explain the nature of business change. These topics include investment strategies, securities …
Persistent link: https://www.econbiz.de/10013035633
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The Benefits of Specific Risk-Factor Disclosures
Hope, Ole-Kristian - 2016
Practitioners have long criticized risk-factor disclosures in the 10-K as generic and boilerplate. In response, regulators emphasize the importance of being specific. By using a computing algorithm, this paper establishes a new measure (Specificity) to quantify the level of specificity of firms'...
Persistent link: https://www.econbiz.de/10012996666
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Segment Disclosure Transparency and Internal Capital Market Efficiency : Evidence from SFAS No. 131
Cho, Young Jun - 2016
improving investment efficiency …
Persistent link: https://www.econbiz.de/10012997639
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The Effects of Financial Reporting and Disclosure on Corporate Investment : A Review
Roychowdhury, Sugata - 2020
capital to the right investment projects. Over the last two decades, a large and growing body of literature has contributed to … our understanding of whether and why financial reporting affects investment decision-making. We review the empirical …
Persistent link: https://www.econbiz.de/10012848402
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The Effect of the Credibility of Mandatory Disclosure by Credit Rating Agencies on Managerial Learning from Stock Prices
Kim, Jaewoo; Park, Seyoung; Wilson, Ryan J. - 2022
agencies (CRAs) on managerial learning from stock prices. We find an increase in investment-price sensitivity for firms … affected by the Act. Consistent with managers relying more on stock prices in making investment decisions in the post … exposed to multiple dimensions of uncertainty, have higher growth options, face steeper competition, have less informed …
Persistent link: https://www.econbiz.de/10014239046