This study investigates whether pre-meeting vote disclosures by large asset owners can amplify the influence of their votes at shareholders' meetings. We utilize the newly adopted 2019 rule that mandates Korea’s National Pension Service (NPS) to disclose voting decisions before the...

We investigate regulatory actions in response to violations of mandatory derivatives disclosure rules (SFAS 161) and the outcomes of such regulatory interventions using a hand-collected sample of derivatives disclosures. Derivatives are used by nearly two-thirds of U.S. non-financial firms, and...

Mitigating the worst consequences of climate change by transitioning to a net zero economy requires investment on a large scale. Directly pricing emissions, the first-best solution to drive capital reallocation, is considered politically infeasible—so policymakers put their currency in...

In this study, we analyze the association between national culture and voluntary operational risk disclosure quality in the European Union banking industry. Complementarily, we assess whether the potential impact of culture differs between global banks and banks with low levels of...

The SEC’s proposed climate disclosure rule has generated substantial controversy. Among the concerns raised by commentators is that the rule is unnecessary because investors can obtain sufficient climate-related disclosure through private ordering. We examine one mechanism for private ordering...

About two-thirds of S&P500 firms disclose their analyst following on their corporate websites. Half of these firms disclose their analyst following in an unbiased fashion, while the rest manage this disclosure by selectively omitting analysts with pessimistic views (selective disclosers)....

Scholars have roundly criticized disclosure as a regulatory regime over the past decade for good reason. Disclosures—whether describing the terms of a loan or the risks of investing—purport to inform consumers. But who actually reads disclosures? We argue that mutual fund disclosures are...

This study examines the impact of Shenzhen Stock Exchange’s (SZSE) information disclosure ratings on investment efficiency in China. Based on a sample of Chinese A-share listed companies on the SZSE from 2001 to 2018, we discover that superior information disclosure ratings improve investment...

We find that managers of firms with greater labor mobility (LM) face higher personal evaluation risk (i.e., higher likelihood of performance-driven forced turnover), especially among firms with more transparent performance disclosures. Moreover, managers of high-LM firms tend to adopt...

The paper shows the ways of disclosing financial risks by IFRS 7 and certain types of sensitivity analysis. The different possibilities of preparing a sensitivity analysis, such as value at risk are illustrated and their suitability for reporting are faced critically. Following, the manner of...