Prior research generally interprets complex language in firms' disclosures as indicative of managerial obfuscation. However, complex language can also reflect the provision of complex information; for example, informative technical disclosure. As a consequence, linguistic complexity commingles...

Prior research documented that higher disclosure quality reduces information asymmetry and cost of capital. Accordingly, firms have an incentive to comply with disclosure requirements and to provide voluntary disclosure. However, prior research on mandatory disclosures on goodwill impairment...

I conduct an experiment with senior executives (CEOs, CFOs, controllers) to examine how their risk disclosure quality, with respect to disclosure volume and specificity, is influenced by three factors: first, whether the disclosure behavior is framed internally by the firm as obtaining a gain or...

This study examines whether and how the extraversion of a firm’s key executives influences its provision and the properties of management earnings forecasts. We provide evidence that firms with extraverted chief financial officers (CFOs) are more likely to have a greater level of voluntary...

How informative is a firm's voluntary disclosure of its gender diversity? We focus on the FTSE 350 and exploit a 2017 UK regulation that mandates public disclosure of detailed gender pay gap ("GPG") data. Using a firm's GPG revealed post-mandate to proxy for the firm's true gender diversity, we...

Recent SEC regulations mandate that hedge fund advisers provide narrative disclosures of their business and operations. We find that 40% of these disclosures contain inconsistencies regarding advisers' regulatory histories, conflicts of interest (COIs), and risks. Inconsistencies are associated...

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...

Nonprofit organizations can make voluntary disclosures useful to donors through annual reports that describe their accomplishments and thank donors for their support. Donors may be motivated to make future contributions to a nonprofit organization based on either the content of the annual report...

We construct an interlocking-directorship network and we use social network and graph theory to identify firms that have access to a wider diversity of information, early access to that information and more control over information diffusion. We examine whether, as predicted by the theory, these...

This study examines the impact of ownership features, corporate governance mechanisms, and firm-specific characteristics on the voluntary disclosure provided by publicly-listed companies on the Shanghai Stock Exchange in China. The ownership structure features and corporate governance mechanisms...