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The Accounting Review, 2020
ABSTRACT This paper studies equilibrium voluntary disclosures for a company financed with both debt and equity, where the firm's manager is compensated based on a linear combination of the market prices of the firm's equity and enterprise values (i.e., the sum of its values of equity and debt). Such compensation policies span “all equity”
Anne Beyer, Ronald A. Dye
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ABSTRACT This paper studies equilibrium voluntary disclosures for a company financed with both debt and equity, where the firm's manager is compensated based on a linear combination of the market prices of the firm's equity and enterprise values (i.e., the sum of its values of equity and debt). Such compensation policies span “all equity”
Anne Beyer, Ronald A. Dye
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Evidence Acquisition and Voluntary Disclosure
Proceedings of the 22nd ACM Conference on Economics and Computation, 2019A sender seeks hard evidence to persuade a receiver to take a certain action. There is uncertainty about whether the sender obtains evidence. If she does, she can choose to disclose it or pretend to not have obtained it. When the probability of obtaining information is low, we show that the optimal evidence structure is a binary certification: all it ...
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Voluntary Disclosure of Bad News
Journal of Business Finance & Accounting, 2005Abstract: This paper shows that in a voluntary disclosure environment entailing both a fixed disclosure cost and a variable proprietary cost, partial disclosure equilibria may arise in which firms voluntarily disclose bad private information to the public.
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2019
Abstract In the course of doing business, company managers may discover that the company has violated the law, thereby exposing the company to potential civil or criminal liability. When this occurs, an inevitable question is whether the company should voluntarily disclose this information to the government.
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Abstract In the course of doing business, company managers may discover that the company has violated the law, thereby exposing the company to potential civil or criminal liability. When this occurs, an inevitable question is whether the company should voluntarily disclose this information to the government.
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EuroMed Journal of Business, 2016
Purpose– The purpose of this paper is to assess the level of voluntary disclosure in the companies listed on the Italian Stock Exchange. Voluntary disclosure refers to the discretionary release of financial and non-financial information which companies are not obliged to disclose by a standard-setting accounting body. In particular, this paper analyses
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Purpose– The purpose of this paper is to assess the level of voluntary disclosure in the companies listed on the Italian Stock Exchange. Voluntary disclosure refers to the discretionary release of financial and non-financial information which companies are not obliged to disclose by a standard-setting accounting body. In particular, this paper analyses
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Voluntary Corporate Disclosure
2020This chapter presents and discusses the literature on voluntary corporate disclosure. It pays attention to the costs and benefits of voluntary disclosure. The discourse also considers the leading role that corporate governance structures play in shaping firms’ voluntary information environment.
Alessandro Ghio, Roberto Verona
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Voluntary information disclosure with heterogeneous beliefs
Journal of Economic Dynamics and Control, 2019zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Liu, Xia +4 more
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Voluntary Disclosure and Investment*
Contemporary Accounting Research, 2012This paper examines the determinants and economic efficiency of corporate voluntary disclosure. The focus is on the trade-off for an individual firm when the costs and benefits of voluntary disclosure stem from the consequences of its investment decisions and the impact on its share price.
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Materiality and voluntary disclosures
Journal of Accounting and Economics, 2010Abstract Materiality has important implications for voluntary disclosures when there is an affirmative duty to disclose. Using a change in rules on the disclosure of advertising costs, Heitzman et al. (2009) empirically demonstrate that, indeed, it is important to factor in the effect of the materiality constraint on firms’ disclosure behavior ...
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Voluntary Disclosure of Clauses
2014We now allow sellers to disclose their hidden clauses at some positive cost. We show that, contrary to conventional wisdom, if naive consumers are few enough a monopolist is more likely to disclose (and therefore to offer efficient friendly clauses) than competitive sellers.
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