Why does the market react to companies’ announcements of strategic alternatives with a +5.2 percent return, only to experience a future return of -9.7 percent? We find evidence consistent with a mispricing explanation in that: (i) investors and analysts are overly optimistic about a potential...

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...

This article will analyse the different duties to disclose imposed on shareholders. The focus is on public limited companies, mainly listed companies and the regulation found in EU law. It is shown that there are several such disclosure duties and their number seems to be increasing. The duties...