| Autor: | Sunil Dutta, Brett Trueman |
|---|---|
| Rok vydání: | 2002 |
| Předmět: |
Voluntary disclosure
Corporate finance Actuarial science Accounting Information interpretation ComputingMilieux_COMPUTERSANDSOCIETY Business InformationSystems_MISCELLANEOUS Corporate disclosure General Business Management and Accounting Private information retrieval Valuation (finance) Public finance |
| Zdroj: | Review of Accounting Studies. 7:75-96 |
| ISSN: | 1380-6653 |
| Popis: | This paper analyzes a setting in which a firm's manager can credibly disclose facts, but not their valuation implications. Consequently, he is uncertain as to how those disclosed facts will be interpreted by investors. Introducing such uncertainty affects the manager's disclosure strategy in two important ways. First, it becomes a function of the market's prior valuation of the firm since that valuation provides a clue as to how future disclosures are likely to be interpreted by investors. Second, the disclosure strategy is no longer characterized, in general, by a single good news/bad news partition of the manager's private information. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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