This study addresses whether firms provide more voluntary disclosures if they redact otherwise mandatorily disclosed contract information, whether firms have higher information uncertainty after they redact, and, if so, the extent to which this higher uncertainty is mitigated by the disclosures....

This study provides further insights on the key corporate governance drivers of intellectual capital (IC) disclosure in Egyptian companies. It uses IC disclosure index of three components; internal capital, external capital, and human capital to identify IC disclosure level in annual reports of...

The central objective of this paper is to identify the factors that explain the level of voluntary disclosure of Brazilian public companies. The theory underpinning this work is the Discretionary-based Disclosure (Verrecchia, 2001). Sample is composed by the top 100 largest non-financial public...

We study voluntary disclosure strategies in leader-follower games where firms choose real actions sequentially after simultaneously disclosing information. We show that the leader incurs an endogenous consistency cost when withholding information because it must choose a suboptimal real action...

This study investigates whether the political leaning of the state where a given firm is headquartered is related to that firm’s decision to voluntarily disclose information about the firm’s carbon emissions. Our study includes a sample of U.S. firms (the S&P 500) surveyed by the Carbon...

Disclosures about R&D activities could potentially help market participants understand the future prospects of R&D intensive firms, but at the same time could be costly to make if the disclosure is related to proprietary information. I examine R&D-related disclosures made by R&D intensive firms...

We examine firms’ voluntary R&D disclosure under technology coopetition, focusing on technology standard setting organizations (SSOs). Technology coopetition is characterized by i) cooperation to determine technology standards, which requires information sharing to reach consensus, and ii)...

Theory suggests that voluntary disclosure decisions are a function of conflicting incentives vis-a-vis multiple audiences. However, few opportunities exist to investigate this issue empirically. We identify a setting that offers us such an opportunity: the electric utility industry as it...

The countervailing effect of MiFID II’s unbundling provision, which requires brokerages to separate research costs from trading execution costs, on the capital market has led to controversies about its efficacy and its potential rollback. In this paper, we examine the role of firms’...

We investigate whether the sustainability implications of firms’ innovative pursuits are associated with their disclosure choices. We find that firms with a greater percentage of patents granted in environmentally sound technologies provide more innovation disclosure in conference calls...